Are we all doomed

Started Jun 16, 2012 | Discussions thread
Chato
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Re: Here is what is coming .....
In reply to KEVZPHOTOS, Jun 17, 2012

KEVZPHOTOS wrote:

Chato wrote:

The political left in Greece, may win the coming election. They are running on a platform, which amounts to, "Tell the Banks and the Corporations to take a long walk off a short pier."

They have no intention of starving to death, just to pay off the Banks. If they win, Greece will be a hell of a lot better off.

Over the long term that may indeed work out to be the case.
However, in the short term that's very debatable.

Sure, suddenly they won't have the HUGE debt hanging over their heads.

and Greece will be a cheap tourist destination (for foreignors) once again....and all the rest of it.

However, the new Drachma will be worth nothing. Greeks won't have the $$$ to travel anywhere overseas. Imported goods (of which Greeks rely upon a lot)...will be uber expensive....and things like hydro, oil, gas etc will also be way more expensive in relation to what they will earn each month.

Greece will loose any buying power it once had...and the local economy will shrink in the short term considerably. It will take 7-10 years for the new Drachma scenario to turn around...and so forth.

My wife's family in Athens (who are the well off ones)...are extremely worried about the entire situation....and from their recent emails....seem to be very pessimistic, etc.

It's a very depressing situation in Athens at the moment.

I do imagine that it's a little better on the islands - but probably not by much.

One of the lessons of history, is that Money doesn't give a sht about any of this. MOmney just says to itself, "Can I make more money now?" Which is exactely what happened in Iceland, where they were warned that no one would put money into Iceland.

With a 25 percent unemployment rate, Not one dime of the aid they get from Europe actually goes to Greece. All of it, and I mean all of it, simply turns right around and goes back to the Banks. And for the priviledge of being shafted, they have to screw their own citizens out of everything.

Thay lose nothing. Absolutely nothing - And now that they will be free of debt, they can get investments. They get get foreign money - Which when all is said and done, has no interest in any of this theoretical garbage, but rather, "How much can I make?"

Dave
--
"Everyone who has ever lived, has lived in Modern Times"

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