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Post by AztecWilliam on May 12, 2010 10:03:47 GMT -8
It was a close call whether to put this thread here or in the international section. I chose here because of the economic implications for the U.S. (not to mention plenty of other nations). Tom Friedman's column on Greece may have lessons for the U.S. The E.U., believing that doing nothing is not an option, is going to help Greece with an infusion of money. But Greece will have to make big adjustments in return. Friedman says that " . . . if you really look closely at what it will take for Greece to mend its economy, this is actually a bailout-for-a-revolution. Greece’s entire economic and political system will have to change for Greeks to deliver their side of this bargain." What happens in Greece now should be worth watching closely. We certainly don't want to end up in the same boat. www.nytimes.com/2010/05/12/opinion/12friedman.htmlAzWm |
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Post by aztecwin on May 12, 2010 17:23:49 GMT -8
Interesting article and your question is thought provoking as well. Our problem is vastly different than that of Greece, but that does not mean that we should not take heed and make sure we avoid the problems that comes from massive public distain for the government and it's wastful spending.
We will see if the US can keep focus on throwing out the bums and reversing the waste. Greece must follow through as well but for different reasons. We are the 500 lb Gorilla while Greece is merely a Lemer.
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Post by AztecWilliam on May 12, 2010 21:54:41 GMT -8
Interesting article and your question is thought provoking as well. Our problem is vastly different than that of Greece, but that does not mean that we should not take heed and make sure we avoid the problems that comes from massive public distain for the government and it's wastful spending. We will see if the US can keep focus on throwing out the bums and reversing the waste. Greece must follow through as well but for different reasons. We are the 500 lb Gorilla while Greece is merely a Lemer. I think that Greece's problem is different only in degree from that of the U.S.A. For instance, keep in mind that in the U.S. the one area that is not suffering much or at all in terms of job losses is the area of government workers. AzWm |
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Post by aztecwin on May 13, 2010 12:38:52 GMT -8
Interesting article and your question is thought provoking as well. Our problem is vastly different than that of Greece, but that does not mean that we should not take heed and make sure we avoid the problems that comes from massive public distain for the government and it's wastful spending. We will see if the US can keep focus on throwing out the bums and reversing the waste. Greece must follow through as well but for different reasons. We are the 500 lb Gorilla while Greece is merely a Lemer. I think that Greece's problem is different only in degree from that of the U.S.A. For instance, keep in mind that in the U.S. the one area that is not suffering much or at all in terms of job losses is the area of government workers. AzWm One huge difference is the scope. Greece has a number of larger economies to look to for help including us and the EU. Who do we have to look for help from? Nobody! We are the lender of last resort and we are fast headed for being broker than we can imagine. |
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Post by AztecWilliam on May 13, 2010 18:07:31 GMT -8
The question is this; Do Obama and his colleagues actually want to harm the U.S. economy or do they simply know nothing of how economies work? Since they are smart enough to realize that if they deliberately achieved the first they would he tarred and feathered, I must assume that the second is the case.
There is an additional factor. If a political consideration (such as the UAW-friendly GM bankruptcy) conflicts with economic realities, the latter are ignored.
AzWm
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Post by aztecwin on May 15, 2010 5:14:33 GMT -8
The question is this; Do Obama and his colleagues actually want to harm the U.S. economy or do they simply know nothing of how economies work? Since they are smart enough to realize that if they deliberately achieved the first they would he tarred and feathered, I must assume that the second is the case. There is an additional factor. If a political consideration (such as the UAW-friendly GM bankruptcy) conflicts with economic realities, the latter are ignored. AzWm There are many who feel that Obama is doing this on purpose. That surely can not be the case. I think and hope that it will not matter. Congress will be vastly different looking after the November election and Obama is very likely to be a one term problem for the country. |
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