Some one has to start it, Americas default.

Yes, I read the same thing. The big issue is MORAL HAZARD. If the problem is not correctly addressed now , the future is bound to bring more trouble. The Germans...or for that matter the Dutch, Austrians.....are rightly concerned. Lets hope they come upon a solution that solves the present confidence problem and disciplines future EURO behavior.

 

Americans don't generally retire until age 67; this so they can bail out a bunch of gimmees overseas so they can retire at 55 on the government nipple. Believe me when I say we are tired of it.
Get off your @$$es and do some work!

 

Remember Greece is two countries. Athens, with its perfidious politicians patronizing a massively bloated public , bureaucrat class, the ones who retire early and then...there is the rest of Greece. People who are honest, never benefit from public services and who must work until they die. This is the reality facing rich industrious Europeans when they choose policy options concerning the " Greek" problem. ..

 

Re Greek financial data
dont forget when those socialist zealots forced Greece into the EU currency not only did they not met the minimum criteria they never actually produced any financial figures for the EU central bank
So you cannot believe any data you read on greece except that they have been insolvent for years
Not to mention a terrorist haven, having NEVER caught anyone for a bombing when finally one bomb went off prematurely in a car they had one maybe only because the press was there so too embarrasing to cover that one up???

 

http://www.international.ucla.edu/article.asp?parentid=24306

Research linked at bottom of page

 

It was widely published in the press in Europe that Greece failed to ever supply data for their financial situation so as to be approved to join the EU in 2001
It was this that convinced many what a joke the EU will become.
Not to mention....
For me any many others it was also the theft of a full set of EU note printing plates that where being shipped to Holland after the big 3 had printed all their notes..oops too late

Not to mention only a fool would issue new currency in paper and not the high tech plastic that is almost impossible to copy and so much cheaper to use as it last years longer

I guess with the worlds 2 biggest issuers of currency doing it with paper you can at least burn it to keep warm at night.

PS your you non EU travellers you do know that no-one including many banks will take a EU100 note and above as they know they are all forged !!

 

Why throw money after bad. Just talking to a guy who was in Greece last week he was advised to leave for the airport a day early becaue the busses were on strike. The guy says if you dont the taxis as well will be on strike tomorrow.

I say leave them to thier 55 retirment and thier all afternoon siestas, lazy ********, it will be cheaper to bail out the banks that they have fcked up and leave them to it.

 

The US used to have a Capitalist economy.

It is now Corporatist.

For those who still don't know what Corporatism (Fascism American style) is, here's a simple explanation:
Fascism Italian style: Government runs business
Corporatism: Big business runs government.

In the US, Congress passes legislation of, by and for the too big to fail. The TBTF compromises not only banks, but the likes of McDonald's, GE, GM, Chrysler, WalMart, Verizon, etc. (Yes, those clowns received bail-out money and receive many other government hand outs, exemptions and tax breaks).

I own a small retail store in a small town. Every penny I collect in sales tax, I must pay to the state of NY and in turn the county gets their cut. On the other hand, the likes of a huge big box retailer, is allowed by the state of NY to keep every penny of sales tax they charge customers. Yes, they charge us sales tax then KEEP IT. They also get a 100% property & school tax exemption and the city takes care of their parking lot for them. Worst of all, when these guys were in financial trouble, Uncle Sam took taxpayer money and BAILED THEM OUT.

Meanwhile, I pay all my sales tax or the state will shut me down, confiscate all of my assets and bill me for their inconvenience. I pay to have my own parking lot cleared of snow and maintained and I must pay property and school taxes. Uncle Sam doesn't give a **** how I'm doing. NO bailouts for me.

Tell me, how in hell can small business successfully compete against that especially in this economy?

If one business is exempt from the rules, then all should be. If the small are required to comply, then so should the conglomerates.

Of course I'm small and can't possibly afford my own fleet of Congressmen. However, Immelt and his ilk, can.

I want a level playing field.
Like any game there has to be rules. And with most games, both sides play by the rules.
When it comes to business, there are two sets of rules. One for the conglomerates and one for the little guy.
Some one has to enforce the rules. Self-regulation sure isn't working.

The infamous free marketeers call for the end of all rules. Explain to me how allowing fraud, collusion, racketeering, etc.... creates a level playing field?
Corruption is rife.

When you call protestors names, I think you are missing the point.

I'm not a crook, nor do I have any desire to get involved in an IPO and the fraud that is Wall Street. I've seen what happens to business when they move from private to publicly traded. For me, no thanks. Why the hell should I want to be fabulously rich? You can't take it with you.

All I want is to make a decent living running an honest business. Work hard? Hell, I put in 80 hours a week. The idea that working hard nets fabulous wealth is a myth. White collar crime however, pays big. Real big.

I am the 99%

 

How do your big box competitors not have to turn over the collected sales tax Elmo? Which big box stores are these? Is this a NY deal?

 

Yes .I only know about NY , but I would imagine the big guys get similar concessions elsewhere.

America is F****d.

 

Which big box stores did NY make this deal with Elmo?

 

France and Germany are talking about how to protect the banks from ridiculous banker dealers who can legally bet your and my money on some hair brained derivative in Japan. Oh we lost your money sorry,-- and this is legal.

Where is the money going from the market --to cash --gold --where else can it go--in 2010 it is unbleivable that banks can bet your money and loose it,-- or if they do make some they distribute it amongst them selves at your risk and give you 3.2%. This is unbleivable, but not yet illegal.

If your were 100% sure your money was safe in a savings acount people would use it and money would flow in from gold probably, at least right now with this market uncertanty.

It ridiculous that we still invest in yellow metal for safety.

This German French plan for the Eropean union will be revealed next month, that will shore up the Euro. Im afraid that uless USA does something similar your fked.

I think that Christine le Guarde is dong a good job and she gives me the horn too --id give it one.

 

One trick I learnt from the big boys ( banksters, my brother is one) is to;
not live in the country of your passport ( or be out the min required)
have a residence in 2 other countries ( or live on a boat that keeps moving)
have business in any 2 countries ( anything)
only own assets that dont require a tax return
Marry a women with a different passport and she keeps her family name

This makes all flying a tax deduction ( should you need it)
confuse the hell out of all tax authorities who say you must live somewhere
net result 2 fingers to the world
Dont use the free medical should your passport allow that and then you will feel morally on the high ground

 

I am confident that the Europeans will find a way. The financial problems you see are caused by a lack of confidence in the political system. The recent downgrading of US debt was a confidence issue. Restore the confidence , the problem will settle down, then attack the debt issue.