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Question for Matty and wdywn

  1. You have chosen to ignore posts from tvoter. Show tvoter's posts

    Question for Matty and wdywn

    How did Greece get in the economic position they are with rioting in the street??

    It's not something that started 12 years ago btw!

     

     
  2. You have chosen to ignore posts from MattyScornD. Show MattyScornD's posts

    Re: Question for Matty and wdywn

    Well, you see, it all started with the nomadic farming cultures of the middle east crossing what is now the bosporus into what we know as southeastern europe and then settling onto the greek mainland and pelopennese as well as the greek islands...

    ...i.e. the 'cradle of civilization'.

     

     

     

     
  3. You have chosen to ignore posts from tvoter. Show tvoter's posts

    Re: Question for Matty and wdywn

    In response to MattyScornD's comment:

    Well, you see, it all started with the nomadic farming cultures of the middle east crossing what is now the bosporus into what we know as southeastern europe and then settling onto the greek mainland and pelopennese as well as the greek islands...

    ...i.e. the 'cradle of civilization'.

     

     Nice dodge. These realities must really suck for those that wish the USA to take the same path but, think it will be different

     




     
  4. You have chosen to ignore posts from MattyScornD. Show MattyScornD's posts

    Re: Question for Matty and wdywn

    In response to tvoter's comment:

    In response to MattyScornD's comment:

    Well, you see, it all started with the nomadic farming cultures of the middle east crossing what is now the bosporus into what we know as southeastern europe and then settling onto the greek mainland and pelopennese as well as the greek islands...

    ...i.e. the 'cradle of civilization'.

     

     Nice dodge. These realities must really suck for those that wish the USA to take the same path but, think it will be different

     







    We're not Greece, and we're not part of the EU or EEC.  And nobody "wishes the USA take the same path".

    Other than that, they're like mirrors.

     

     
  5. You have chosen to ignore posts from DirtyWaterLover. Show DirtyWaterLover's posts

    Re: Question for Matty and wdywn

    Greece lied its way into the Euro.  They said their deficits were 1/2 of what they really were.  After they got into the Euro, Interest rates dropped dramatically, and people who had never borrowed money before where borrowing like crazy - buying stuff made in Germany.

    when a new government came into power in Greece, they uncovered the lie.  They told everyone that their deficits were 2 to 3 times what they had been telling people.  

    that caused banks and investors to suddenly stop lending money to the Greek government, which led them to come close to defaulting on govt bonds.

    and because they are in the Euro, they are unable to use things like monetary policy to get the, out of their predicament.  In effect, when they joined the euro, they pretty much gave up their ability to manage their economy.

    when they instituted austerity measures, people who owed money couldn't pay their creditors.  This led to a viscious cycle making the economy worse and worse.

    What was imposed on Greece by the Euro zone and by it's creditors is what people like Tvoter and skeeter and the tea partiers want to do here in the US.

     
  6. You have chosen to ignore posts from skeeter20. Show skeeter20's posts

    Re: Question for Matty and wdywn

    In response to DirtyWaterLover's comment:

    Greece lied its way into the Euro.  They said their deficits were 1/2 of what they really were.  After they got into the Euro, Interest rates dropped dramatically, and people who had never borrowed money before where borrowing like crazy - buying stuff made in Germany.

    when a new government came into power in Greece, they uncovered the lie.  They told everyone that their deficits were 2 to 3 times what they had been telling people.  

    that caused banks and investors to suddenly stop lending money to the Greek government, which led them to come close to defaulting on govt bonds.

    and because they are in the Euro, they are unable to use things like monetary policy to get the, out of their predicament.  In effect, when they joined the euro, they pretty much gave up their ability to manage their economy.

    when they instituted austerity measures, people who owed money couldn't pay their creditors.  This led to a viscious cycle making the economy worse and worse.

    What was imposed on Greece by the Euro zone and by it's creditors is what people like Tvoter and skeeter and the tea partiers want to do here in the US.




    Greece lied? 

    I guess they are socialists.  And Democrats.

     
  7. You have chosen to ignore posts from Sistersledge. Show Sistersledge's posts

    Re: Question for Matty and wdywn

     
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  9. You have chosen to ignore posts from Sistersledge. Show Sistersledge's posts

    Re: Question for Matty and wdywn

    In response to jmel's comment:

    In response to Sistersledge's comment:




    $250K is not rich.  



    Morning jmel I just thought that I would stir the pot . Get outside and get some sunshine today before the Pats and Colts.

    BTW what do you think of the " Fighting Irish" ?

    # 1 Baby !!!!!!

     
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  11. You have chosen to ignore posts from skeeter20. Show skeeter20's posts

    Re: Question for Matty and wdywn

    In response to Sistersledge's comment:




    Who's this putz?  By his statement, he doesn't even understand basic economics, ideology aside.

     
  12. You have chosen to ignore posts from DirtyWaterLover. Show DirtyWaterLover's posts

    Re: Question for Matty and wdywn

    Higher tax rates for the rich, and economy doing well, and a balanced budget during the Clinton years.

    Lower tax rates for the rich, economy crashed and burned, huge deficit under Bush.

    Explain one more time how raising taxes on the wealthy is bad.

     
  13. You have chosen to ignore posts from skeeter20. Show skeeter20's posts

    Re: Question for Matty and wdywn

    In response to DirtyWaterLover's comment:

    Higher tax rates for the rich, and economy doing well, and a balanced budget during the Clinton years.

    Lower tax rates for the rich, economy crashed and burned, huge deficit under Bush.

    Explain one more time how raising taxes on the wealthy is bad.



    One more time:

    Laffer curve.  read up on it.

    You are trying to compare the tax burden during a boom economy with the tax burden during a resession.  I wouls say even the stupidest people would agree that raising taxes in bad times is not a good thing.

     
  14. You have chosen to ignore posts from tvoter. Show tvoter's posts

    Re: Question for Matty and wdywn

    In response to DirtyWaterLover's comment:

    Higher tax rates for the rich, and economy doing well, and a balanced budget during the Clinton years.

    Lower tax rates for the rich, economy crashed and burned, huge deficit under Bush.

    Explain one more time how raising taxes on the wealthy is bad.




    The operative words ^ are not "tax cuts" it's "balanced budget".

    The dems have not even put forth a budget in 4 years and everyone the republican house put forth the dem senate refused to even debate or have a counter budget!

    what's up with that??

     
  15. You have chosen to ignore posts from 12-Angry-Men. Show 12-Angry-Men's posts

    Re: Question for Matty and wdywn

    In response to skeeter20's comment:

    One more time: Laffer curve.  read up on it. You are trying to compare the tax burden during a boom economy with the tax burden during a resession.  I wouls say even the stupidest people would agree that raising taxes in bad times is not a good thing.




    Ya sure thing spanky...except the Laugher Curve has never been proven, at any tax rate.

     

    No one knows at what point the Laugher Curve is invoked. That means that a tax rate of equilibrium could be as high as 90%.

    The highest US tax rate in the 60's was 90% yet it was the second longest period of economic growth the modern history. 

     
  16. You have chosen to ignore posts from 12-Angry-Men. Show 12-Angry-Men's posts

    Re: Question for Matty and wdywn

    In response to tvoter's comment:

    The operative words ^ are not "tax cuts" it's "balanced budget". The dems have not even put forth a budget in 4 years and everyone the republican house put forth the dem senate refused to even debate or have a counter budget! what's up with that??



    But I thought Ronnie Raygun proved deficits don't matter?

    Or was that just more whacko wingnut empty rhetoric?

     
  17. You have chosen to ignore posts from DirtyWaterLover. Show DirtyWaterLover's posts

    Re: Question for Matty and wdywn

    In response to skeeter20's comment:

    In response to DirtyWaterLover's comment:

    Higher tax rates for the rich, and economy doing well, and a balanced budget during the Clinton years.

    Lower tax rates for the rich, economy crashed and burned, huge deficit under Bush.

    Explain one more time how raising taxes on the wealthy is bad.



    One more time:

    Laffer curve.  read up on it.

    You are trying to compare the tax burden during a boom economy with the tax burden during a resession.  I wouls say even the stupidest people would agree that raising taxes in bad times is not a good thing.



    Ah, supply side economics.

    My Sohpmore year in college, EC 302 Macro Theory.  After the mid term, the professor was going over the syllabus.  He gets to the end of the Syllabus which says "Supply Side Economics".  I got excited because at the time I was Reaganite.  So the professor says, "and if we have time, we'll go over Supply side economics in case anyone actually believes that stuff".

    So skeeter, explain it to the class.  Unless of course, you don't actually understand it.

    And by the way, Reagan may have called what he was doing, "supply side" but it was really Keynes.

    Speaking of Reagan, didn't he enact the largest tax increase in the nation's history?

    Next up, Skeeter explaining how Reagan wasn't a true Republican.

     
  18. You have chosen to ignore posts from 12-Angry-Men. Show 12-Angry-Men's posts

    Re: Question for Matty and wdywn

    Do you hear that? No? Listen closer. There. That. That, coming from Louisiana, is the sound of the end of trickle-down economics.

    Economists have known for a while that personal marginal tax rates, and in particular those on the rich, don't seem to have much of an effect on the economy. As we wrote in September, even Reagan's economist did not find any evidence that the Reagan recovery had come from the Reagan administration's personal income tax cuts. Over the last four years, apostate Republican thinkers such as Bruce Bartlett and David Frum began to agree. Then most of America did. Even a group of CEOs of major corporations came around to the idea that raising tax rates on the rich would not hamper growth.

    But no sitting Republican politician joined them, certainly none with big plans. Until this week. Bobby Jindal is both: governor of Louisiana and a strong prospect for 2016. On Monday he told Politico, "We cannot be, we must not be, the party that simply protects the rich so they get to keep their toys."

     

    http://www.businessweek.com/articles/2012-11-15/how-bobby-jindal-killed-a-republican-sacred-cow

     
  19. You have chosen to ignore posts from 12-Angry-Men. Show 12-Angry-Men's posts

    Re: Question for Matty and wdywn

    BWAAAAAAAAAAA HAAAAAAAAAA HAAAAAAAAAAAAA

    Ya, those wingnuts are such dang fiscal hawks....except when they actually control Congress then all bets are off.

     

    The whacko wingnuts let the PAYGO statute expired at the end of 2002. After this, the wingnut Congress enacted President George W. Bush's proposed 2003 tax cuts (enacted as the Jobs and Growth Tax Relief Reconciliation Act of 2003), and the Medicare Prescription Drug, Improvement, and Modernization Act. The White House acknowledged that the new Medicare prescription drug benefit plan would not meet the PAYGO requirements.

    After the expiration of PAYGO, budget deficits returned. The federal surplus shrank from $236.2 billion in 2000 to $128.2 billion in 2001, then a $157.8 billion deficit in 2002—the last year statutory PAYGO was in effect. The deficit increased to $377.6 billion in 2003 and $412.7 billion in 2004. The federal deficit excluding trust funds was $537.3 billion in FY2006. In the first 6 years of President Bush's term, with a Republican controlled Congress, the federal debt increased by $3 trillion.

     
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