2011-09-27, 15:37 | Link #16841 |
Gamilas Falls
Join Date: Feb 2008
Location: Republic of California
Age: 46
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The historical prediction would be recovery in two full two term Presidents...so we have another up to 6 years left on this problem (where it sort of auto corrects in the first year of that Presidents term. So sometime in 2017. The problems started showing around 2000.
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2011-09-27, 16:12 | Link #16843 | ||
Senior Member
Join Date: Dec 2010
Location: Gensokyo
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In short, by selling everything, the state will gain less money (on long time of course ...), won't be able to repay and will have to borrow even more ( and thanks to the notation agencies the more you are in shit, the more the interest are high, so that if you have the first foot in the water, you can be sure the whole body will follow). Well, I'm not really a pro at that, the whole opposite, but that's how we are seeing things here. ... Holy it's too late, I can't even write in english properly tonight: I give up I hope it's understandable. |
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2011-09-27, 17:50 | Link #16845 | |
Obey the Darkly Cute ...
Author
Join Date: Dec 2005
Location: On the whole, I'd rather be in Kyoto ...
Age: 66
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2011-09-27, 18:55 | Link #16847 | |
Not Enough Sleep
Join Date: Nov 2003
Location: R'lyeh
Age: 48
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Option 1 gives the banks something and a chance to recoup everything back option 2 gives them nothing.
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2011-09-27, 19:16 | Link #16848 |
Rawrrr!
Join Date: Mar 2008
Location: CH aka Chocaholic Heaven
Age: 40
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They could default on their debt, as many countries have already done.
But the root of their problem is that they can't do that, because they need to borrow more and more, simply to account for the massive deficit in their budget. Summary: they are toast. Or at least the Hellenic Republic, member of the EU is. So unless they figure a way to first balance their budget, and ultimately repay their debt (again, things that other countries have done), the current country will have to vanish, together with all it's obligations.
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2011-09-27, 19:50 | Link #16849 |
Knight Errant
Join Date: Dec 2007
Location: Dublin, Ireland
Age: 35
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Aye, that's the big problem with Greece, not the debt it already has, but the debt it's continuing to accrue. If Greece was running a decent budget their debt wouldn't be such a problem, but their budget deficit is so high that even if they left the Euro their ills would not end. Even if they took the "mint money" root they'd just end out like Zimbabwe.
Even if Greece declared bankrupty tomorrow, that still not going to change the fact that Greece's government can't run a surplus. That's the real root of the problem. Even without the horrendous interest payments Greece would still be in deficit spending territory. Hell, Greece had bad deficits even before the financial crisis. Also, for those of you that say there's no way for Greece to leave the EU, the Lisbon treaty actually introduced a mechanism. |
2011-09-27, 20:16 | Link #16850 |
Takao Tsundere Cruiser
Join Date: Oct 2008
Location: Classified
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Iraq makes first payment in deal to buy 18 US F-16s
How ironic would it be if those jets were the same used during the Gulf Wars?
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2011-09-27, 22:49 | Link #16851 | |
Senior Member
Join Date: Jan 2008
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http://www.flightglobal.com/news/art...ssiles-347808/ The F-16IQ is a new aircraft with older missiles and systems. |
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2011-09-28, 04:40 | Link #16853 |
Um-Shmum
Join Date: Dec 2007
Location: at GNR, bringing you the truth, no matter how bad it hurts
Age: 39
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yeah...
as opposed to their previous aircraft, which were used in pieces. seriously, what "peaceful" uses do F-16's have ?
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Last edited by bladeofdarkness; 2011-09-28 at 07:23. |
2011-09-28, 08:04 | Link #16854 | |
books-eater youkai
Join Date: Dec 2007
Location: Betweem wisdom and insanity
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2011-09-28, 08:42 | Link #16855 | |
YOU EEDIOT!!!
Join Date: Apr 2009
Location: I'm right behind you
Age: 41
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But not all of Europe is so well-integrated. Unfortunately Greece, the birthplace of democracy, spent much of the 20th century as a fascist tinpot and has a long history of tax evasion and sheltering. (You've heard the saying, "Just because we invented democracy doesn't mean we're really good at it.") Much as I support the EU in theory, they need to realize their financial limits and enforce their criteria for membership. IMNSVHO, Greece's historic instability and poverty should've raised some red flags in Brussels. And the Turks are still trying to get on board. Really? Why not America, since a majority of Americans are descended from Europeans (yes, that includes Hispanics, obviously), and the Founding Fathers at least tried to carry on British, Greek and Roman republican ideals? Why not Israel, since much of its population is descended from postwar Jewish refugees from Europe? |
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2011-09-28, 09:55 | Link #16856 |
Senior Member
Join Date: Dec 2008
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When you just thought it couldn't get any worse:
http://translate.google.de/translate...8838%2C00.html The European Parliament approved the reform of the Stability Pact, points against Europe's debt flood:
Both 1 and 2 basically already existed, but were never punished or really controlled. I doubt they will have any effect now - countries like Greece cannot pay anyways. Some countries have already exceeded 100%. Point 3 is wrong on so many levels, I don't know where to start. For Germany that would basically mean that it will have to pay yet a few more extra Billions every year, because it has some 200 Billion surplus annually. This alone would be enough to hang the German minister of finance for treason, but it gets even stupider because he agreed because the others said they won't enforce it. And they are planning a new transaction tax, with many southern politicians already begging for the money to go into the EU instead of the national budgets, meaning that Germany will transfer even more money. Tomorrow the German parliament is expected to pass the new guarantees. This is getting more and more insane, we are being dragged down deeper and deeper into the shit every day. |
2011-09-28, 11:15 | Link #16857 | |
Senior Member
Join Date: Jan 2008
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http://www.strategypage.com/qnd/iraq.../20110928.aspx Those F-16's will probably be compromised as soon as foreign spies start showing up at Iraqi airbases with briefcases full of money. No point in giving them the latest stuff. |
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current affairs, discussion, international |
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