600 Euro a month is Lavishing life style? Greeks are suppose to support a family on 600 Euro a month? Greeks are not worth 600 Euro a month? 600 Euro a month is going to pay off the deficit and create economic activity and prosperity? Greeks Need more Austerity? Is this what Schiff wants for America? Americans listen to this guy?
Why not print, ... By: XESTISS. on 17 May 12, 05:34:26 Why not print, stimulate, maximize productivity, raise minimum wage, and watch REAL wages start to rise once again in a society. Because productivity for the sake of productivity creates a wealth gap. Look at India and China. Everybody thinks how great China is, Except for the Chinese!
US has demonstrated that printing works for everybody not just the few at the top. If the people at the bottom have money to spend the? people at the top will always take it from them one way or another.
Agreed that 22% ... By: intrigid. on 17 May 12, 03:00:49 Agreed that 22% unemployment will never pay? off the debt. So eliminate minimum wage and restrictive labor laws, get people back to maximum employment, and default on your debts. Only by keeping everyone employed and productive will you start to see REAL wages start to rise once again in a society.
but? we do earn ... By: ImperialSplashma. on 17 May 12, 00:29:37 but? we do earn more than what we spent,but there are the loans that make the ratio negative.
No One asked for a ... By: XESTISS. on 10 Mar 12, 05:37:43 No One asked for a law that creates wealth. This is a law that "Destroys wealth"! Removing 50% of money in circulation will never pay off the debt. Increasing unemployment to 22% and higher will never pay off the debt.
What does pay of debt is having your population productive at maximum employment. To do that you need the? Money in circulation constant.
This is Exactly why I wish you Americans voted in Ron Paul You would all STARVE! Only than would you understand Austerity!
plenty of poor ... By: ricochetVendetta. on 09 Mar 12, 23:36:21 plenty of poor people in the world. the point would be that you cant make a law to create wealth, all the best intentions wont pay bills, what usually happens is people demand to seize property and it turns into communism, still? doesnt work
Your the Child. I ... By: XESTISS. on 09 Mar 12, 22:12:28 Your the Child. I think it's best for Children to have their nap time and reflect? on their stupidity.
Shush. I think? ... By: intrigid. on 09 Mar 12, 22:10:50 Shush. I think? it's time for your nap.
There goes your ... By: XESTISS. on 09 Mar 12, 22:04:48 There goes your ignorance running rampant. The 50% pay cut are not? for Government Workers. So Private or not you would get a pay cut. Can I than tell you you are living way above your means? No You don't understand debt. If you did you would not be posting stupidity. The World knows what they want to hear. "Oh It's them this will not happen to you" That's what the world knows. Your like a child that laughs at another kid for something and than you go off and do something even dumber!
The government ... By: intrigid. on 09 Mar 12, 21:51:57 The government isn't paying me. The private sector is. And I'm? being paid a hell of a lot more than minimum wage. And yes, I do understand debt. Unlike you. And yes, greeks are living way beyond their means. The entire world knows this. Except for you. Moron.
If the Gov gut 50% ... By: XESTISS. on 09 Mar 12, 21:47:01 If the Gov gut 50% of what you earn can I tell you the same thing than? You see the Problem is you are sitting there not understanding Debt. These people did not live above? their means.
Why can't? people ... By: intrigid. on 09 Mar 12, 21:23:49 Why can't? people understand the simple concept that a society cannot indefinitely spend more than it earns?
People are too lazy ... By: XESTISS. on 09 Mar 12, 18:21:35 People are too lazy to learn what it's about. But they? sure have a lot to say about it. Don't they? The Prefer to quote their founding fathers and ancient currencies. Sigh!
That is some ... By: XESTISS. on 09 Mar 12, 18:13:23 That is some serious insightful stuff. You are 100% Correct. Throw in some
"Hey did you know they changed the way inflation is calculated? I (schiff) exposed the truth so now your in on the? secret" Wink! (Look how smart you are now.) You are so right.
also one other ... By: MrBig200. on 09 Mar 12, 17:30:21 also one other thing people need to understand our MMT that's the real problem right there but instead they listen to hacks like Peter Schiff and hangs on every? word he says all because he got a few things right
im sure everyone ... By: MrBig200. on 09 Mar 12, 17:17:12 im sure everyone else who isn't falling for Pater's crap knows now but I have now figure out why he's been playing the Hyperinflation nonsense its not just about trying to sale gold its also trying to sale Austerity of course what Austerity really? does no one would go for it how ever you tell those same people that Hyperinflation is coming and that your an expert there bought
Actually I am not a ... By: XESTISS. on 09 Mar 12, 16:20:59 Actually I am not a laymen. I never said the economy? was never better in 2008. I said in 2001 Household debt outstanding surpassed Disposable income. Not good. In 03 it surpassed Personal income. Even worse. By 2007 Household debt was almost at par with GDP. What Followed? A Balance sheet recession.
US can wipe out? 2 Trillion of debt in 1 day! Ask me how.
Greece does not need to collapse. US has proven what we have been saying all along! EZ Politicians think like you Results????
First off Jim ... By: XESTISS. on 09 Mar 12, 16:01:31 First off Jim Rogers has Alzheimer's. So no I do not believe people who lost their marbles. "Idiots" like me have been spot on Macro Economics. When smart people like you, Jim Rogers and Schiff were calling for Dow 1000, Hyper inflation, Dollar Collapse, Bond implosion, Fed has run out of bullets the US will decouple from the rest of the world. We said nonsense! Since than US debt has exploded Private debt contracted Rates at historical lows. Dow 13,000 EZ collapsing under? Austerity
I guess then that ... By: Icriedtoday. on 09 Mar 12, 15:08:02 I guess then that you do not believe the FOUNDER of the Quatum Fund, and multi-billionaire, Jim? Rogers, who said what idiots like you cannot figure out yet: "the system must reset; you cannot solve the problem of too much debt with more debt." Of course, this billionaire, and record-breaking investor, is NOT an economist either!!!
I'm a layman and ... By: Icriedtoday. on 09 Mar 12, 15:05:41 I'm a layman and you are not??? I'm not an economist? You mean that the 99.9% of the educated guys who told us ALL that the economy was NEVER BETTER in July 2008?? ? You mean, THOSE economists? Stop trying to show some esoteric advantage here. You are not an economist, but a fool, and I am no longer a subscriber!
You are a currency ... By: XESTISS. on 09 Mar 12, 13:24:23 You are a currency user. Not a currency Issuer. if you were a currency Issuer? you would? have different limitation. Inflation. This is the Problem with laymen. They don't understand economics. But they Feel as IF they do. Sigh!
Greece needs to ... By: XESTISS. on 09 Mar 12, 13:20:09 Greece needs to maintain the money supply in Circulation constant. As Currency User we cannot. Nor will the rest of the EZ. Which is Why they have printed a record? 1.3 Trillion in the past year. As Currency Issuers we could maintain Money supply in Circulation constant and allow economic recovery. In the same way the US has. Unfortunately most people such as yourself do not understand MMT. YET! When the EZ collapse or figures out? what MMT means than you will understand. Maybe.
That's right, ... By: Icriedtoday. on 09 Mar 12, 13:12:16 That's right, Greeks need more deficit? spending! So do I, in fact! Where's my credit card? Whatever......
Shrinking the money supply and expecting economic growth is insanity. It's time for Greece to strike back by defaulting and leaving the EZ. Enough is Enough!
AAAAND!!!!! Here is ... By: CitizenNumber. on 04 Mar 12, 09:37:39 AAAAND!!!!! Here is where the conversation ends for me! You are? trying to convince me that the ENTIRE Global credit crunch is caused by "Corrupt Greek Politicians." AAA!!! That is the root of evil uh?
Conspiracy Theories are for the those who are small minded and ignorant to the facts. Who want to create boogiemen to explain what they don't understand! Keep driving that taxi.? Thanks for wasting my time! ANDE GIAAAAAAAAAAAAA!!!!!!!!!!!!!!!!!!!!!!
I don't know if ... By: XESTISS. on 04 Mar 12, 05:38:16 I don't know if it's Brave or stupid! lol!
What we have growing is a problem primarily built around financialization. The Steve Jobs of today doesn't start Apple. He starts XYZ Financial Management. And the result is many of our best and brightest minds figuring out how to move numbers around in accounts rather than solving big world changing problems or creating goods and services that increase the entire society's? living standards. Gov can provide this. Only Private Sector.
hahahahahaha? By: aliaandreadi. on 03 Mar 12, 20:01:53 hahahahahaha?
unfortunately u r ... By: aliaandreadi. on 03 Mar 12, 19:56:19 unfortunately u r missing out a crucial bit in the equation: the corruption of greece's government. they 're just gonna use the money to? bribe voters and steal from savers like they always did, under successive govts while we had the drachma... u don't understand how corrupt greek politicians are and i don't blame u
our debt will still ... By: aliaandreadi. on 03 Mar 12, 19:53:46 our debt will still be there- only bigger- Or r u suggesting greece just get outta the game without paying??
again u r imagining ... By: aliaandreadi. on 03 Mar 12, 19:51:49 again u r imagining why I liked the fact that u were in Iraq... of course I am 100 per cent against the war and? i just thought it was brave of u to travel there. Yep, greek wages r unacceptably low. And prices r unacceptably high. The greek govt is so corrupt that it never addressed either of these issues while greece was still "booming"
Drachma will? ... By: CitizenNumber. on 03 Mar 12, 17:31:18 Drachma will? devalue with no debt. Tourism will skyrocket. A good amount of ships would return under the Greek flag. Tax revenue will increase as would Foreign investment.
You do believe we ... By: CitizenNumber. on 03 Mar 12, 17:27:55 You do believe we should be a Currency Users though. That is in effect the same thing. Greece in both cases is limited to the amount it can print. Either by Gold discovery? or EZ authorization. there is no difference.
As a Currency Issuer you control the amount of money in circulation and avoid collapses. The one size fits all the EZ is trying to impose is an economic joke.
I am really sorry ... By: XESTISS. on 02 Mar 12, 09:42:06 I am really sorry to disappoint you my friend but I was not in Iraq for battle or ground support etc. I was there for work. I don't want you to be mislead by my comment.
No not all savers have pulled their money. But most of those savers don't have much to lose to begin with. Not to sound condescending. I really need to drive home the fact that inflation for most Greeks is 150% since their wages dropped by as much as 40% via? Deflation. Thats not added EUR Value. It's contraction!
Your quote " I sais ... By: XESTISS. on 02 Mar 12, 09:25:55 Your quote " I sais as long as the banks dont lend there will never be hyperinflation," I did not put words In your mouth.
I am trying to make you understand money debt as it pertains to Gov vs Household. Currency Issuer vs User. VASTLY? Different concepts that you are either not willing to understand or can't comprehend. Why is this important? Bc your views of what's really going will be clear.? Right now you are confused. i am not putting you down. This is High Finance stuff.
I stated that ... By: aliaandreadi. on 01 Mar 12, 21:00:50 I stated that fractional reserve banking causes inflation NOT hyperinflation and would appreciate if u stopped putting words into my mouth OR imagining about what i do or do NOT watch,? coz I certainly do NOT watch alex. I think schiff is cool tho ;) If u honestly think that fractional reserve banking did NOT contribute to the massive price increases of home value we saw in the early noughties then u r either financially ignorant or just arguing for the sake of it- ;)
the fact that u ... By: aliaandreadi. on 01 Mar 12, 20:34:47 the fact that u were in? Iraq puts a big (genuine) smile on my face and confirms why i was initially attracted to your channel ;) we obviously disagree bout the fundamentals but i can defo state that NOT all savers have pulled out their money already and in fact most in gr r still holding on to their property etc n i just wish we could feel more united; all this fear mongering has spawned mass distrust and simultaneously has many many wake up to the corruption of the gr govt- let's hope
I did no such? ... By: XESTISS. on 01 Mar 12, 19:35:43 I did no such? thing. I Compared your "Isolated" statement. All this countries have their own currencies. "Isolated" right? Don't try to twist my words.
Let me ask you something Does the US say "Well you know Mississippi is not as productive as New York so we need to impose Austerity on Mississippi"? If you answer is No. Than how do you expect the EZ to exist in the future? This half ass attempt at a union is Doomed from the word "GO" as is it's currency.
u conpare the UK to ... By: aliaandreadi. on 01 Mar 12, 18:46:34 u conpare the UK to greece? and a post-colonial country where one can be executed for smoking marijuana to? greece? and then u have the audacity to accuse ME of my imagination going wild??? amazing...
Yes and No. 1. ... By: XESTISS. on 01 Mar 12, 17:46:57 Yes and No. 1. Things would get worse initially. Savers already pulled their money. They won't be robbed. Drama! 2 Recovery would be much faster. No Debt right? 3. The Money supply in circulation would match the productive output and create stability in the economy. 4. If you don't trust? the Gov than we should not have a Gov right? The problem lies else where than. doesn't it? 5. Property would not be up for "grabs". Iraq home prices are 300k and up! DURING WAR! I know I was there!
Fractional reserve ... By: XESTISS. on 01 Mar 12, 17:36:08 Fractional reserve lending causes hyperinflation? What are you talking about? You have no idea what your talking about. At all! Your watching too much Alex Jones & Schiff videos!
Hyperinflation is caused by severe exogenous shocks in quite specific circumstances.
loss of productive capacity (collapse in the domestic economy) *
Loss of a war? or civil war
Inability to tax *
foreign Debt *
Rampant government corruption
* Sound familiar? Printing is a Result (symptom)! NOT A CAUSE!
Isolated? A bit ... By: XESTISS. on 01 Mar 12, 16:15:25 Isolated? A bit dramatic? don't you think? Is Singapore "Isolated"? Uk? Switzerland? Are they Isolated?
Martial law? I honestly don't understand what is going o in your head. I do know Your imagination is running wild.
for those of u that ... By: aliaandreadi. on 01 Mar 12, 14:26:08 for those of u that dream that an isolated greece could ever survive - think of how vulnerable to invasion and financial terrorism we would be if isolated - the military is? too big as it is- imagine what greece would look like under martial law...
If the greek govt ... By: aliaandreadi. on 01 Mar 12, 14:22:01 If the greek govt printed u think it would dig the money in a hole? Yep the banks r in trouble today but in a return to the drachma, the banks would just fail and there would be chaos everywhere. all savers would be robbed (most would have taken their money out by then) the middle class would be robbed of their entire life's savings their property and greece would be up for grabs for pennies on the dollar- inviting sharks and scaring away decent investors, isolating greece? financially
Of? COURSE id u ... By: aliaandreadi. on 01 Mar 12, 14:13:57 Of? COURSE id u printed the cash and dug it into a hole it would NOT create inflation. This is EXACTLY what i'm saying and u have NOT addressed this- inflation is caused by high street bank fractional reserve lending; most money is digital not even cash so please spare me all of this. I sais as long as the banks dont lend there will never be hyperinflation, so what's your point? please enough of this, unless u indicate u ve actually read any of my words
You don't get it. ... By: XESTISS. on 01 Mar 12, 06:16:43 You don't get it. This is why you must first understand what I am saying to you. Printing does not = devaluation. Period!!
If I print 100 Trillion and dig a whole in the ground and dump it in there is it inflationary? Would it cause Devaluation? Hyper inflation?
Lets get more more complicated now. Income 1000 debt 250 per month. Debt income ratio is 25%. Austerity comes in and drives my income down to 500 does debt go? down? No! New debt to income 250/500 is 50% Unsustainable!
is this like early ... By: aliaandreadi. on 29 Feb 12, 22:53:23 is this like early 20th century economics? Dude the economy is globalized! Of COURSE an issuer may only benefit from devaluing a currency under an? exporting model. your failure to see this is baffling! Simple math??? LOL show me the equation that proves this!
I do NOT believe we ... By: aliaandreadi. on 29 Feb 12, 22:49:17 I do NOT believe we should return to the gold standard and much of YOUR confusion obviously stems from the fact that you'd rather speculate about what i do or do NOT believe rather than explain how on earth a country like greece could? ever benefit from issuing its own currency
Your responces ... By: aliaandreadi. on 29 Feb 12, 22:45:05 Your responces consist mainly of widely known information i see no reason for u to state- Instead of replying directly to my points u throw this along with disingenuous speculation as what i may or may not believe. truth is money supply and creation mainly happens? thru commercial and high st bank lending thru fractional reserve loaning and most of it is digital, not even printed. Drachma equals bank failure in gr which would shrink the supply more that ANY austerity EVER could.
Public utitlities ... By: Dean0000007. on 20 Feb 12, 03:19:55 Public utitlities aren't crony capitalism. LOL My God man, I really don't understand where you're coming? from. You sound like someone that is extremely right wing and believes that private is the be all and end all of everything. Nomads or anarchists believe that. Why have a military when you can buy Blackwater to do the job? LOL I don't have the time or space in this comment to show you how crazy your reasoning sounds. I can understand why a very few elite would like it
I'm not a big? ... By: Dean0000007. on 20 Feb 12, 03:14:37 I'm not a big? Obama fan. He brought in Obama Care which would make any Republican blush and is filling all private health insurance corps flush with cash. Instead of suppling a public health option (like every other advanced country in the world) he is making everyone buy insurance whether they want to or not. Obama is a sellout to wallstreet and corporate elites.
You must live in a ... By: Dean0000007. on 20 Feb 12, 03:10:28 You must live in a bubble!!! LOL
Ok, I won't count GW, how about Reagan, or "I won't raise taxes" HW Bush? Clinton ran a? surplus. We'll go to other countries like Canada, Conservative PM Harper is running huge deficits and cutting pension eligiblity, but Liberal PM Chretien ran surpluses and kept social programs intact. I can go on and on, please research things before blindly accepting the right wing folly of misperceptions or ill concieved notions.
The denial is in ... By: XESTISS. on 19 Feb 12, 22:16:54 The denial is in your lack of understanding of macro economics. You do not know how to weigh things? in their proper value in proper sequence. You pick and chose arguing points from Micro sectors apply it to Macro general sprinkled with some unicorn horn dust and Wala.
You are all over the place from Gold to Unions to Artificial back to commodities to history to Ethanol to Socialism to name calling to Printing. Your mind is a mess. You'er Grasping at anything to make a point.
Removing money ... By: XESTISS. on 19 Feb 12, 22:05:34 Removing money supply from circulation in a down turn causes a collapse. This is not Rocket science it is a very simple macro concept which you are not knowledgeable enough to understand. The only thing that matters in the Macro economy is that the productive output is as close to maximum. The rest will take care of it's self. US Gov can? wipe out 2 Trillion of Debt in about :15 with 1 simple coin market 2 Trillion on it. Too advanced for you to understand I know. But it's true!
Correlation is not ... By: TruthDetector100. on 19 Feb 12, 19:57:25 Correlation is not proof of causation, so your assertions are without merit. The public sector unions have? long been grossly overpaid and artificially inflating wages, so it is only right that austerity correct the wrongs of overpayment to those union groups. Frankly, more cutting and slashing of the fat is long overdue to correct the decades of socialist deficit spending insanity. If your complaint is about the severity of the austerity, you have the socialist insanity to blame.
Today's ... By: TruthDetector100. on 19 Feb 12, 09:43:48 Today's conservatives are people like Obama defending the status quo of expanding crony capitalism represented by the Solyndra scandal. The Solyndra scandal is just one of the latest examples of the crony capitalist contagion that decades of U.S. Democrat socialism? has spawned.
Actually, you can't ... By: TruthDetector100. on 19 Feb 12, 09:31:45 Actually, you can't name? a single truly Right-wing government engaging in more irresponsible profligacy than socialist regimes do; and no--sorry--"neocons" like George Bush don't count as Right-wing since they are essentially left-wing jingoists and warmongers supported by the likes of leftist pamphleteers like the late Christopher Hitchens. Today's Right-wing are classical liberals like Ron Paul fighting the good fight against freedom-stifling socialist government expansion.
I find right wing ... By: Dean0000007. on 19 Feb 12, 08:27:11 I find right wing governments actually spend more than left leaning governments by subsidizing rich corporations with taxpayer money, so there is enough blame to go around. Yes socialism can get carried away, but often doesn't because subsidized? Mom with 20 kids can't afford to pay the kind of lobby money to buy a politician off. You will find that most public money is syphoned off to the very rich elite, of course the elite and right wing will deflect blame for deficits.
So you socialists ... By: TruthDetector100. on 19 Feb 12, 08:20:02 So you socialists deny that Greece has not hitherto been sowing the seeds of its own economic crisis by its long held left-wing socialist overspending excesses on deficit? upon deficit increasing the debt upon debt, right? That's what socialist extremists do, not learning from history.
Only shrill ... By: TruthDetector100. on 19 Feb 12, 08:00:48 Only shrill extremist delusional denial of reality is in your replies. To the delusional left-wing extremist in denial, I ask the following: If the overall rising cost of goods and commodities over the last? three years including fuel, food and gold is not to be called inflation reflecting the declining value of? paper money because of its increased supply from the printing presses, deficit spending, and government malfeasance with the Ethanol subsidies, what do you call it -- magic?
It's not Greece ... By: Dean0000007. on 19 Feb 12, 01:44:51 It's not Greece electing to? kick the can down the road anymore. There is no democratically elected government in Greece right now, same as Italy. There are technocrats running the show there now again'st what people want. Socialism has succeeded in many areas of the world, capitalist countries are the most heavily in debted. From years of failed ideology and corruption. Most of US's capital success came during the time of slavery and indian land grabs or indentured service
Socialism has ... By: Dean0000007. on 19 Feb 12, 01:39:11 Socialism has nothing to do with making the rich richer, it's a way the right wing demonizes crony capitalism to sound like socialism, however its more of a right wing fascist model where the 1% of the 1% can succeed and very little else will. Socialism is making private corporations that run necessity? items like electricity public, crony capitalism (fascism) is making public institutions private for pennies on the dollar.
Where is the ... By: XESTISS. on 18 Feb 12, 19:48:30 Where is the devaluation of the currency? Where is all the inflation? You have a lot to say but no real data to back up your words. Greece did not? print and they are collapsing under deflation. Did prices fall for them? Of course not. Only income. US printed stimulated bought their bonds and are in the midst of a double rip "Recovery". Jobless claims continue to drop. Commodities except Speculation on Gold have collapsed 30 40 50%. This is real undisputed tangible data.
Seriously, though, ... By: RussianPunch. on 18 Feb 12, 19:15:02 Seriously, though, the discredited and debunked ideology of Keynesianism which advocates devaluing a currency to create inflation is to economics what witch doctory is to medicine. The only remaining Keynesianism zealots are left-wing extremists, or socialist quacks like Paul Krugman. Inflating the money supply has primarily served to harm the middle class and the poor, but the rich get richer by? exploiting inflation by rising profits from commodities along with low interest.
Of course, there ... By: TruthDetector100. on 18 Feb 12, 11:14:17 Of course, there obtains far less expensive means of doing the same thing even better where a socialist government monopolization (crony? capitalism at its worst) is prevented from existing along with its inherent consequences of driving up the real public cost of everything it touches.
Greece has long ... By: TruthDetector100. on 18 Feb 12, 11:10:07 Greece has long elected to kick the can down the road rather than deal with its unsustainably bloated socialist government running riot on the behalf of public sector unions. Greece has no one to blame but itself for this. Of course? it is a fallacy to claim that the inherent inefficiency of socialist policy and fat cat public sector unions is justified because quality education happens in spite of it.
People very much ... By: Dean0000007. on 18 Feb 12, 08:19:16 People very much misunderstand free market systems. People that lend money accept the risk of lending, it is why the lender is paid the interest in the first place. Let Greece default, issue its own currency, and? as a lender don't lend to them again.
The banks are the ones that signed on to the CDS's and must accept the consequences of accepting short term commission on their issuance and go bankrupt. They must be allowed to fail to cleanse the system.
The problem is this ... By: Dean0000007. on 18 Feb 12, 08:15:24 The problem is this, the money can never be paid back, it would put people into horrendous conditions. The lenders? took out credit default swaps on their loans (mostly through US banks), that is why there is so much pressure for Greece to accept the "bailout", it bails out the banks not Greece. Greece operated for hundreds of years before the EU and it will after. There's lots of socialist "fat" in Germany, but the fat is used to educate it's citizens, and it prospers
Inflation is ... By: XESTISS. on 18 Feb 12, 07:55:13 Inflation is created by austerity. When? ones income drops as much as 50% and prices stay the same that is inflation. Have you seen the price of meat, chicken, shelter, automobiles, appliances, commodities etc drop on a Global scale because of the Greek deflation? Of course not. Do you see inflation in the US who printed? Of course not. This point proves that Austerity & Deflation doesn't work. Reducing the money supply in circulation by 50% only causes a collapse. Self Evident!
Your prescription ... By: TruthDetector100. on 18 Feb 12, 07:45:25 Your prescription to create more and? more inflation in Greece is a great idea that Peter Schiff doesn't get. Inflation is the best thing for Greece right now.
It is very simple: ... By: TruthDetector100. on 18 Feb 12, 07:38:47 It is very simple: The lenders have the right to set the terms by which their money is lent, so Greece can take it or leave it! If I were lending to? Greece, I would demand that none of my money go towards sustaining any of their bloated, fat government public sector unions. The ridiculously fat, bottom heavy Greek government must be utterly slashed down to one-third its current operating cost. Take a blow torch to government fat and let the free markets decide how the country goes.
![Nigel Farage: EU\](http://i.ytimg.com/vi/agDWJsgWZLI/2.jpg "Nigel Farage: EU\")
Latest comments made on this video:
By: XESTISS. on 17 May 12, 05:34:26
Why not print, stimulate, maximize productivity, raise minimum wage, and watch REAL wages start to rise once again in a society. Because productivity for the sake of productivity creates a wealth gap. Look at India and China. Everybody thinks how great China is, Except for the Chinese! US has demonstrated that printing works for everybody not just the few at the top. If the people at the bottom have money to spend the? people at the top will always take it from them one way or another.
By: intrigid. on 17 May 12, 03:00:49
Agreed that 22% unemployment will never pay? off the debt. So eliminate minimum wage and restrictive labor laws, get people back to maximum employment, and default on your debts. Only by keeping everyone employed and productive will you start to see REAL wages start to rise once again in a society.
By: ImperialSplashma. on 17 May 12, 00:29:37
but? we do earn more than what we spent,but there are the loans that make the ratio negative.
By: XESTISS. on 10 Mar 12, 05:37:43
No One asked for a law that creates wealth. This is a law that "Destroys wealth"! Removing 50% of money in circulation will never pay off the debt. Increasing unemployment to 22% and higher will never pay off the debt. What does pay of debt is having your population productive at maximum employment. To do that you need the? Money in circulation constant. This is Exactly why I wish you Americans voted in Ron Paul You would all STARVE! Only than would you understand Austerity!
By: ricochetVendetta. on 09 Mar 12, 23:36:21
plenty of poor people in the world. the point would be that you cant make a law to create wealth, all the best intentions wont pay bills, what usually happens is people demand to seize property and it turns into communism, still? doesnt work
By: XESTISS. on 09 Mar 12, 22:12:28
Your the Child. I think it's best for Children to have their nap time and reflect? on their stupidity.
By: intrigid. on 09 Mar 12, 22:10:50
Shush. I think? it's time for your nap.
By: XESTISS. on 09 Mar 12, 22:04:48
There goes your ignorance running rampant. The 50% pay cut are not? for Government Workers. So Private or not you would get a pay cut. Can I than tell you you are living way above your means? No You don't understand debt. If you did you would not be posting stupidity. The World knows what they want to hear. "Oh It's them this will not happen to you" That's what the world knows. Your like a child that laughs at another kid for something and than you go off and do something even dumber!
By: intrigid. on 09 Mar 12, 21:51:57
The government isn't paying me. The private sector is. And I'm? being paid a hell of a lot more than minimum wage. And yes, I do understand debt. Unlike you. And yes, greeks are living way beyond their means. The entire world knows this. Except for you. Moron.
By: XESTISS. on 09 Mar 12, 21:47:01
If the Gov gut 50% of what you earn can I tell you the same thing than? You see the Problem is you are sitting there not understanding Debt. These people did not live above? their means.
By: intrigid. on 09 Mar 12, 21:23:49
Why can't? people understand the simple concept that a society cannot indefinitely spend more than it earns?
By: XESTISS. on 09 Mar 12, 18:21:35
People are too lazy to learn what it's about. But they? sure have a lot to say about it. Don't they? The Prefer to quote their founding fathers and ancient currencies. Sigh!
By: XESTISS. on 09 Mar 12, 18:13:23
That is some serious insightful stuff. You are 100% Correct. Throw in some "Hey did you know they changed the way inflation is calculated? I (schiff) exposed the truth so now your in on the? secret" Wink! (Look how smart you are now.) You are so right.
By: MrBig200. on 09 Mar 12, 17:30:21
also one other thing people need to understand our MMT that's the real problem right there but instead they listen to hacks like Peter Schiff and hangs on every? word he says all because he got a few things right
By: MrBig200. on 09 Mar 12, 17:17:12
im sure everyone else who isn't falling for Pater's crap knows now but I have now figure out why he's been playing the Hyperinflation nonsense its not just about trying to sale gold its also trying to sale Austerity of course what Austerity really? does no one would go for it how ever you tell those same people that Hyperinflation is coming and that your an expert there bought
By: XESTISS. on 09 Mar 12, 16:20:59
Actually I am not a laymen. I never said the economy? was never better in 2008. I said in 2001 Household debt outstanding surpassed Disposable income. Not good. In 03 it surpassed Personal income. Even worse. By 2007 Household debt was almost at par with GDP. What Followed? A Balance sheet recession. US can wipe out? 2 Trillion of debt in 1 day! Ask me how. Greece does not need to collapse. US has proven what we have been saying all along! EZ Politicians think like you Results????
By: XESTISS. on 09 Mar 12, 16:01:31
First off Jim Rogers has Alzheimer's. So no I do not believe people who lost their marbles. "Idiots" like me have been spot on Macro Economics. When smart people like you, Jim Rogers and Schiff were calling for Dow 1000, Hyper inflation, Dollar Collapse, Bond implosion, Fed has run out of bullets the US will decouple from the rest of the world. We said nonsense! Since than US debt has exploded Private debt contracted Rates at historical lows. Dow 13,000 EZ collapsing under? Austerity
By: Icriedtoday. on 09 Mar 12, 15:08:02
I guess then that you do not believe the FOUNDER of the Quatum Fund, and multi-billionaire, Jim? Rogers, who said what idiots like you cannot figure out yet: "the system must reset; you cannot solve the problem of too much debt with more debt." Of course, this billionaire, and record-breaking investor, is NOT an economist either!!!
By: Icriedtoday. on 09 Mar 12, 15:05:41
I'm a layman and you are not??? I'm not an economist? You mean that the 99.9% of the educated guys who told us ALL that the economy was NEVER BETTER in July 2008?? ? You mean, THOSE economists? Stop trying to show some esoteric advantage here. You are not an economist, but a fool, and I am no longer a subscriber!
By: XESTISS. on 09 Mar 12, 13:24:23
You are a currency user. Not a currency Issuer. if you were a currency Issuer? you would? have different limitation. Inflation. This is the Problem with laymen. They don't understand economics. But they Feel as IF they do. Sigh!
By: XESTISS. on 09 Mar 12, 13:20:09
Greece needs to maintain the money supply in Circulation constant. As Currency User we cannot. Nor will the rest of the EZ. Which is Why they have printed a record? 1.3 Trillion in the past year. As Currency Issuers we could maintain Money supply in Circulation constant and allow economic recovery. In the same way the US has. Unfortunately most people such as yourself do not understand MMT. YET! When the EZ collapse or figures out? what MMT means than you will understand. Maybe.
By: Icriedtoday. on 09 Mar 12, 13:12:16
That's right, Greeks need more deficit? spending! So do I, in fact! Where's my credit card? Whatever......