The weekly: Greece to default/restructure THIS weekend? thread

TGregg · Oct 11, 2012

Quote from maxpi:

Once a person or a sovereign thingy borrows too much there's almost nothing that can make much of a difference.

A friend of mine remarked that by the time the markets tell you that you have too much debt, it's already too late to do anything about it.

Ed Breen · Oct 11, 2012

That depends on who your major ceditor is and what your future need for debt is.

morganist · Oct 11, 2012

Quote from maxpi:

Once a person or a sovereign thingy borrows too much there's almost nothing that can make much of a difference. The Greek leaders are probably wailing "IT'S OVER, WHY DOESN'T EVERYBODY GET THAT?" in private... They probably can't wait to exit the Euro so they can print their own currency and inflate their way out of debt...

I don't know if I completely agree with that. The suggestion I have been making is to find another way to pay it off. That is one possibility. Changes everything.

oldtime · Oct 11, 2012

Quote from morganist:

I don't know if I completely agree with that. The suggestion I have been making is to find another way to pay it off. That is one possibility. Changes everything.

yeah really, I mean the old way just isn't working at the moment. What good does it do me if all my debtors are in bankruptcy?

It's just been a horrible piss poor mismanagement the way the banks have been handling mortgage foreclosures. Nobody is responsible for failure. It's like they are stuck back in the 19th century.

And me and my friends are all responsible, because we are the ones that let the Department of Education teach them how to manage a loan.

darkhorse · Oct 11, 2012

Unemployment in US Great Depression ~ 25%.

At least Greece doesn't have to worry about the prospect of GD anymore, they've already got it.

oldtime · Oct 11, 2012

Quote from darkhorse:

finally the kids are figuring it out. You can't get ahead by working for someone else.

oldtime · Oct 11, 2012

Quote from oldtime:

finally the kids are figuring it out. You can't get ahead by working for someone else.

when I run for President, I won't be happy until the unemployment rate is 100%, and everybody is in business for themselves.

oldtime · Oct 11, 2012

Quote from oldtime:

when I run for President, I won't be happy until the unemployment rate is 100%, and everybody is in business for themselves.

you won't even be able to get a dishwasher unless you give him a cut of the profits

maxpi · Oct 12, 2012

Quote from morganist:

I don't know if I completely agree with that. The suggestion I have been making is to find another way to pay it off. That is one possibility. Changes everything.

Why don't the lenders come in walking wide between the knees and get some assets? Governments typically own a lot of stuff. What's so special about some fricking government that they can't fork over some parks, forests, buildings, roads, etc?

morganist · Oct 12, 2012

Quote from maxpi:

Why don't the lenders come in walking wide between the knees and get some assets? Governments typically own a lot of stuff. What's so special about some fricking government that they can't fork over some parks, forests, buildings, roads, etc?

That may well happen but the price will be poor.