Greek Unemployment Hits Escape Velocity | Page 2 | TigerDroppings.com

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buddhavista
Member since Jul 2012
3543 posts

re: Greek Unemployment Hits Escape Velocity


quote:

My Dad's old saying of "You have to have a Ph.D. to be this stupid" regarding many of the stupid things said by the so-called "educated" is truer today than it was when he was alive.


you are just an angry troll. Nothing I said was inaccurate
quote:

You know, the dollar may not be the worlds standard for much longer so what the frick are we going to repay the Chinese with when that takes place?
.
And what exactly is going to take the dollars place? I agree we are not on solid footing but is it going to be the euro? No way. The reminibi? Again I dont think so.

And china's influence on our Treasuries is exaggerated. They own about 8% of our outsanding debt. Most is owned by our citizens and corporations, which in some ways makes the situation much worse.

They could ask we denominate in reminibi or gold, as could japan (2nd largest holder). But I think the effect would be relatively minimal.

This is one of the reasons I really like the treasury going with longer duration of notes, so there is less rollover.






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lsu13lsu
LSU Fan
Member since Jan 2008
2150 posts

re: Greek Unemployment Hits Escape Velocity


quote:

I heard John Stossel say that Greece has a law that any company with over 7 employees must have 15% of their workforce comprised of disabled people. That's madness. What if your business is manual labor?


I was worried that was where we were headed with those U.N. Disabiliy Regulations we almost agreed to in the Senate the other day.






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lsu13lsu
LSU Fan
Member since Jan 2008
2150 posts

re: Greek Unemployment Hits Escape Velocity


quote:

So we can print our way out of the debt, and that fricking is very different from greece.


I thought the new debt we issue to China was inflation protected.



This post was edited on 12/6 at 11:49 am


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SoulGlo
LSU Fan
Shinin' Through
Member since Dec 2011
3642 posts

re: Greek Unemployment Hits Escape Velocity


Everybody was wondering where the hockey stick graph went... here it is!





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nobodytooimportant
Member since Oct 2012
657 posts

re: Greek Unemployment Hits Escape Velocity


quote:

I was worried that was where we were headed with those U.N. Disabiliy Regulations we almost agreed to in the Senate the other day.


You do realize that treaty was essentially going to make the rest of the world come up to the standards the US already has with ADA?

Further there is a fundamentally misunderstanding with treaties, the treaties don't make law. IF there was something in the treaty that would require a change in US law, that law would still have to pass Congress and congress would have a chance to vote on the specifics.






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nobodytooimportant
Member since Oct 2012
657 posts

re: Greek Unemployment Hits Escape Velocity


quote:

And what exactly is going to take the dollars place?


Somehow all these people talking about the decline of the dollar neglect to mention what will take the dollars place. They also seem to ignore the fact that we are no where close to not being able to borrow more as evidence by the low interest rates that we can get for our debt. In order for us to be in trouble there has to be an economy out there that is in better shape. I don't see it. In fact everything I see says we are out performing Europe.






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los angeles tiger
LSU Fan
1,601 miles from Tiger Stadium
Member since Oct 2003
55976 posts

re: Greek Unemployment Hits Escape Velocity


quote:

you are just an angry troll. Nothing I said was inaccurate


Name calling is the first defense of those that lose a debate.
I'm laughing at your posts because you think we are in less danger than Greece when we aren't. Actually, Greece is much like California, where we can't print our own money to get us out of our debt. Californians want the federal government to bail California out just like the City of Detroit wants the federal government to bail them out. At the same time, libs are calling the Republican state legislatures and governors that are not going to finance Obamacare as being greedy and evil.


The treasury is buying up our debt more than anyone else and you don't think there's much of a problem? What about this little gem?

quote:

Dollar should be replaced as international standard, U.N. report says


LINK







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los angeles tiger
LSU Fan
1,601 miles from Tiger Stadium
Member since Oct 2003
55976 posts

re: Greek Unemployment Hits Escape Velocity


quote:

You do realize that treaty was essentially going to make the rest of the world come up to the standards the US already has with ADA?



Really? You believe that bull shite. If that's the case then we didn't need to sign a treaty. Think for a minute.
The UN "treaty" would put government in charge of disabled children and take away the parents rights.

We don't need nonsense from the fricking U.N. nor to sign such bull shite. WTF are the dems doing right now for the people in Syria? Voting for bull shite UN nonsense so they can proclaim how wonderful they are and how evil Republicans are. It's bull shite and empty nonsense just like the numerous empty parking spots that are required by law of our own ADA.






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Duke
USA Fan
Gonzales, La
Member since Jan 2008
20097 posts

re: Greek Unemployment Hits Escape Velocity


quote:

think greece is going to have 10 years of absolutely horrible recession/depression, even if they break with the euro (they will)


So what happens to all the Euro banks if Greece defaults? They're on unsteady ground as it is.






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buddhavista
Member since Jul 2012
3543 posts

re: Greek Unemployment Hits Escape Velocity


quote:

Name calling is the first defense of those that lose a debate

dude, you started by calling me stupid. So I guess your opening line was to just give up.
quote:

I'm laughing at your posts because you think we are in less danger than Greece when we aren't

We are in severe danger. I would never say we weren't. Its just a different danger from greece, and honestly a lot less acute. We are probably beyond fixing it but what happens is going to look very different to greece.
quote:

Actually, Greece is much like California, where we can't print our own money to get us out of our debt. Californians want the federal government to bail California out just like the City of Detroit wants the federal government to bail them out.

well I would tend to agree that analogy is directionally correct. But california's state debt isn't even in the same league as greece. its like 5% of gross state product, vs. 130%+ of GDP for greece.

The problem for california is that they also have the localities debt problem and also the federal gov't.
quote:

Dollar should be replaced as international standard, U.N. report says


LINK

Dude, the UN has all sorts of report. You should see what they say about climate change.






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Meauxjeaux
Memphis Fan
I have 89,367 posts with my alters
Member since Jun 2005
17546 posts
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re: Greek Unemployment Hits Escape Velocity


All of the bad stuff started in 2008.

Clearly Bush's fault.






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Interception
Providence Fan
Member since Nov 2008
11089 posts

re: Greek Unemployment Hits Escape Velocity


quote:

We are in severe danger. I would never say we weren't. Its just a different danger from greece, and honestly a lot less acute. We are probably beyond fixing it but what happens is going to look very different to greece.


Agree, we actually are the worlds 2nd or 3rd leading exporter. We have actual meaningful economic growth, but we have long term liabilities and a declining workforce. We currently have around 16% underemployment and most of 3.9 million new jobs created since 2009 being part time. Moreover, 3.5 million of those jobs went to workers 55-69 years of age. Additionally, ages 25-54 loss 880,000 net jobs since '09. The rest of the jobs < 5 million went to 16-24 year olds.

The Boomers have on average of 50k of debt per person on average so they are reluctant to leave the labor force. They sold the Millennials on the idea that education would give them an edge in the workforce. Millennials are the most educated generation to ever live, over 40% of college grads hold a job that doesn't require a degree. Plus, on average they owe 27k on student loans and over 10k in credit card bills per student. With all these factors combined in the next 18 months the student loan crisis will surpass the peak of the "housing bubble" (1.3 trillion). There are no houses, land or buildings or meaningful assets with this crisis, only an individual with no job (or low paying) and a mountain of debt.

Maybe the worst part of all this chaos coming is that Millennials have to face 1) Higher Taxes 2) Less spending on infrastructure and lower social spending 3) Lower growth for the foreseeable future. Moreover, they know the tab will be passed down to their generation and the Millennials face certain downward mobility. Meaning, a culture of increased renters and adults living with parents. The dream of owning a home is becoming just that, a dream.

I can go into the social consequences of all this but Im depressed thinking about the future. One last tidbit, Obamacare only increases part time labor and gives corporations even more reason to cut pay and decrease benefits. It's the nail in the coffin for "Generation Screwed"!!!




This post was edited on 12/6 at 1:50 pm


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los angeles tiger
LSU Fan
1,601 miles from Tiger Stadium
Member since Oct 2003
55976 posts

re: Greek Unemployment Hits Escape Velocity


quote:

dude, you started by calling me stupid. So I guess your opening line was to just give up


I didn't call you stupid. My dad's oft used comment highlights how people are often indoctrinated to believe foolish things at the utopia known as the university.






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