France, Greece choose suicide over solvency; are we next?

BizPacReview.com ^ | May 11, 2012 | Michael Dorstewitz

[EGPWS]

PIGS, incurred massive debt as the result of their “cradle to grave” social programs.

They done gone and ran out of other peoples money.

[SampleMan]

Next? We were first, November 2008.

[Dr. Ursus]

How do you say Road Warrior time in French and Greek?

[varmintman]

Nobody with brains or talent is advocating stupid spending anywhere. Nontheless people should be aware that there is more than one point of view on the effect of government spending or lack thereof on economies.

[Georgia Girl 2]

The 41% here will be just as resisitant to austerity measures as the general public of Europe. Expect our train to continue hurtling down the track of collapse and prepare accordingly.

[Jim Noble]

You know, I disapprove of borrowing too much and then welching - but the catastrophic "chose suicide" motif is wrong.

We heard the same thing about Iceland, which is now one of the happiest and most peaceful places in the world.

Renouncing unpayable debt is not suicide, because its the banks that die, not the debtors.

People, including many here, have accepted that national survival equals survival - no, profitability - of the money center banks, when it is those banks (in their present unconstitutional role) that are a major threat to that survival.

Money systems end all the time. Ours is terminally ill.

As soon as it dies, we can start to get well again.

[WILLIALAL]

“We heard the same thing about Iceland, which is now one of the happiest and most peaceful places in the world.

Renouncing unpayable debt is not suicide, because its the banks that die, not the debtors.”

But Iceland is does not hold the world’s trading currency, we do. So if we were to default, it would be catastrophic to the world’s economy and ours.

We will not default, and we will control interest rates by buying up our own debt by the Fed. Devalues the dollar, but the Fed can play that game for a long time.

[vikingd00d]

>>How do you say Road Warrior time in French and Greek?

Greek: Χρόνος οδικών πολεμιστών
French: The French don't have a word for 'Warrior' :)

[Savage Beast]

Deep in the dark heart of decadence, which has Western Civilizaion in a death grip, lurks a death wish. Those infected with it long for death, destruction, annihilation. They find nothing in Western Civilization worth preserving or passing on to their children. Hell! They can't even muster the desire to have children!

We see it clearly in France. Many Americans also harbor this death wish.

Whether or not America will survive depends on how many Americans are infected with this death wish and how powerful it is.

[Savage Beast]

Deep in the dark heart of decadence, which has Western Civilizaion in a death grip, lurks a death wish. Those infected with it long for death, destruction, annihilation. They find nothing in Western Civilization worth preserving or passing on to their children. Hell! They can't even muster the desire to have children!

We see it clearly in France. Many Americans also harbor this death wish.

Whether or not America will survive depends on how many Americans are infected with this death wish and how powerful it is.

[Dead Corpse]

Yep.

Kinda makes you wonder if the whole planet has wandered into some kind of “stupid zone” in the Universe.

[Night Hides Not]

French: The French don't have a word for 'Warrior'

Sure they do...the word is Bosch.

[dfwgator]

Sure they do...the word is Bosch.

I thought it was Legionnaire.

[expat2]

Your cited article is full of holes. To claim that govt spending has a multiplier of 1.5 at this point in time is ridiculous. Th multiplier for all spending is less than 1.0 these days, and the government-spending multiplier is certainly lower than the average, because much of private spending is productive, whereas govt. is in no way productive.

Keynes wanted govt. spending to invigorate the private sector of the economy, not keep govt. bureaucrats in obstructive, rather than productive, jobs.

[ctdonath2]

Question is whether the population at large is productive enough to make good after hitting the debt reset button, or whether a net negative productivity will just drive ‘em back down the hole again.

Getting conned into being liable for someone else’s financial mistakes is one thing.
Being that someone else is different.

[Savage Beast]

"The French don't have a word for 'Warrior'"

What about guerrier?

[Night Hides Not]

Your answer’s better...wish I’d thought of it.

[Oatka]

How do you say Road Warrior time in French and Greek?

"je surrendeur" :-) (dunno about Greek)

Coming soon to a neighborhood near you.

[Owl558]

“They can’t even muster the desire to have children!”

I’m curious, how many kids do you have?