Crisis in Europe -Who´s fault is it? Debtor´s or creditor´s?

[mapuata]

www.youtube.com/watch?v=OjXl61uKq8c

Like to lurke in here but seldomly post anything.
As I have seen so many "upholders of moral standards" on this site lately I thought this video may make a few of them rethink their quick assessment that the current economic problems are ALL the borrowers´ fault.
The situation presented in the video (one of the more explicit ones, though certainly not an exception in the good old days), in my view, also applies in different forms and shapes to corporations, local and federal governments etc (obviously in slightly more "sophisticated", ie intransparent, structures).

Now that we have this mess, the real question is how to solve it... do you still think morally only the debtors should be made responsible, or maybe there should be SOME sharing of the burden?

 

[morganist]

I wrote a book on the Euro Crisis.

http://morganisteconomics.blogspot.com/p/publications.html

 

[Lucrum]

Quote from mapuata:

...Now that we have this mess, the real question is how to solve it... do you still think morally only the debtors should be made responsible, or maybe there should be SOME sharing of the burden?

SOME sharing probably, but mostly the debtors.

 

[ammo]

i think we abolish all the debt,rewrite the banking/lending laws,make all monies passed public knowledge,re invent the banking system and move on...since dc is owned by the money and won't let that happen ,we throw/vote everyone out,outlaw the democrat and republican parties in loo of prosecution for racketeering and start with new politicians and new parties

 

[morganist]

Quote from ammo:

i think we abolish all the debt,rewrite the banking/lending laws,make all monies passed public knowledge,re invent the banking system and move on...since dc is owned by the money and won't let that happen ,we throw/vote everyone out,outlaw the democrat and republican parties in loo of prosecution for racketeering and start with new politicians and new parties

If you drop all debt people lose their pensions.

 

[mapuata]

The pensioners are certainly one factor in the equation and I believe that they should take some of the heat too.

If you think about it, a (civil?) war is unlikely to result from the anger of the silver generation.

Now the frustrated un(der)employed youth could easily...

 

[Random.Capital]

Quote from mapuata:

Now that we have this mess, the real question is how to solve it...

It can't be "solved" because it's neither a fiscal nor monetary problem. The root cause of all this is that energy prices have gone up 8x in the past decade.

All money is just a usually-convenient proxy for energy.

There is no way out of this - not for the Euro, not for Germany, not for the US, not for Japan or China.

 

[morganist]

Quote from mapuata:

The pensioners are certainly one factor in the equation and I believe that they should take some of the heat too.

If you think about it, a (civil?) war is unlikely to result from the anger of the silver generation.

Now the frustrated un(der)employed youth could easily...

Old people vote and there are more of them. The government will do as they say and impose laws against the young. It will be a generational war.

 

[oldtime]

I bought a stock, to be honest with you I may have gotten a little overextended in it. And then the management ran the whole company into the ground. Now who's fault is that?

 

[Random.Capital]

Quote from oldtime:

Now who's fault is that?

*Puts on ET Rand Hat hat*

Obama's, of course.

*Puts on OWS "nitro needs a better paying job" hat*

It's all Bush's fault, and always will be.

*Puts on no hat*

Hey man, ultimately we're responsible for choices we make, including those at the ballot box.