Will we learn from the Greek fiasco?

[Oliver88]

The Greeks are a good example for all governments not to become like.

I hope Manitoba can give the socialist gravy train the boot finally in the next election. I feel sorry for the hard working regions OUTSIDE Winnipeg who didn't vote NDP.

[cottonpicken]

Look at the numbers we are Greece. We are joint and severe with Manitoba and the rest of the ****tard provinces which Alberta just became no way out we are screwed.

[SASKFARMER3]

I agree Manitoba is already their and really Ontario Quebec and a few others are close. They will take us down eventually as a country.

[cottonpicken]

Everyone needs to re reAd animal farm. What was the damn horses name?pull harder pull harder everyone else needs you to work harder because we arnt.

[ajl]

Working harder is not really a solution anymore because who is going to buy the inventory you produce? The problem is that debt and inflation has destroyed purchasing power in the future so that it is not possible to grow our way out of the problem any more. Combine that with an aging population and we are screwed no matter what. Politicians and central banker go not get this. AB election of the NDP is only a symptom of the greater rot.

[cottonpicken]

As far as the banks they don't keep your deposit on hand. They lend it out or invest it. Ballpark one tenth is there. That's called tier 1 capital. That's why bank runs and losses on the balance sheet are so feared. Remember Lehman and 08 when the structure was about to come down so they had to all merge flush Lehman then the bailouts came to recapitilize everything.

Europe never really never went through that. Some banks are out 40:1. This is what the whole bassel treaties where about. The fact they are talking about thirty percent haircuts on deposits is because the banks are screwed.

In Europe you have soverign bonds in a single currency. They are essentially provinces in a country. The troika is the ecb IMF couple others i forget which is the monetary police over the "provinces" to put out the fires of overstreatch.

Like Ontario lets run a 10 b deficit have a ****in election about it along with Alberta. The god damn richest province in canada. **** it make it count now run ten times the amount run if off the tracks sooner then later.

Sorry not sorry for the rant

[cottonpicken]

Another fun story while I'm in the mood.

Years ago a couple guys named rhinehart and rogal wrote a book outlying the global debt debt problem and another guy named kyle bass who runs a hedge fund and is notorious for making billions front running the sub prime meltdown and billions in the CDs market(I could write pages about this guy)put together an x posa on the banking system in the relation of the host countries size.

If I remember right he took it to Rogoff. Who after studying put his head in hands and said i cant believe its this bad.

Now people who follow this shit know but up intill 08 nobody did.

[sumdumguy]

Little Greeces in many Western households. Two people hauling kids to babysitters before 7 a.m. so that they can make minimum payments on maxed-out credit cards. A couple of generations living way beyond their means, even mortgaging their homes to travel in their retirement, buy boats and RV's. A lifestyle supported by too cheap money and terrible governments who don't see the danger.

[cottonpicken]

**** you. You stupid old pricks voting in socialist programs in the sixties driving income taxes rates to fifty ****ing percent driving the women out of the home to make ends meet taking the monetary system off the gold standard debasing the currency and lowering the standard of living look up the god damn purchasing power of minimum wage in the sixties for Christ sakes you ****ed us a long long time ago because you were to busy worrying about the Beatles abortion watergate and the real stories behind the news where to complicated for you to understand.

[stonepicker]

Snickers anyone?