Comments on: Roubini on Greece http://blogs.reuters.com/felix-salmon/2010/04/28/roubini-on-greece/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: compsci http://blogs.reuters.com/felix-salmon/2010/04/28/roubini-on-greece/comment-page-1/#comment-14200 Thu, 29 Apr 2010 10:15:17 +0000 http://blogs.reuters.com/felix-salmon/?p=3602#comment-14200 Why do we run deficits AT ALL? Don’t we have some of the best-educated workers, and (at least in Northern and Eastern Europe) some of the most flexible and hardest-working?

Don’t we have great natural resources here? North Sea oil and gas… Good quality coal and metal ores…

Why on EARTH are we running at a DEFICIT?

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By: DavidMerkel http://blogs.reuters.com/felix-salmon/2010/04/28/roubini-on-greece/comment-page-1/#comment-14193 Thu, 29 Apr 2010 06:33:36 +0000 http://blogs.reuters.com/felix-salmon/?p=3602#comment-14193 Well said, Felix.

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By: HBC http://blogs.reuters.com/felix-salmon/2010/04/28/roubini-on-greece/comment-page-1/#comment-14192 Thu, 29 Apr 2010 06:32:56 +0000 http://blogs.reuters.com/felix-salmon/?p=3602#comment-14192 If only they’d taken a leaf out of Goldman’s parchment and insured themselves with AIG, the Greeks could be bathing naked in hot tubs full of Eurodollars.

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By: STORYBURNcom_0 http://blogs.reuters.com/felix-salmon/2010/04/28/roubini-on-greece/comment-page-1/#comment-14183 Thu, 29 Apr 2010 02:46:20 +0000 http://blogs.reuters.com/felix-salmon/?p=3602#comment-14183 The euro is toast. If Greece had the Drachma, this problem would be local

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By: Ghandiolfini http://blogs.reuters.com/felix-salmon/2010/04/28/roubini-on-greece/comment-page-1/#comment-14164 Wed, 28 Apr 2010 18:37:16 +0000 http://blogs.reuters.com/felix-salmon/?p=3602#comment-14164 You are right, debt is relative.

The only one who has an ‘effective haircut’ around here is James Saft.

Rating agencies should be put on the red carpet for antitrust practices and not played off against each other. Who owns these guys ?

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By: rcheeseman http://blogs.reuters.com/felix-salmon/2010/04/28/roubini-on-greece/comment-page-1/#comment-14162 Wed, 28 Apr 2010 17:28:55 +0000 http://blogs.reuters.com/felix-salmon/?p=3602#comment-14162 When money is created out of nothing but thin air it has no real value. It isn’t backed by goods or gold,just debt It is just pixels on a screen. The only people worried out this are the people with pixel money. The rest of us poor folks will muddle through whatever happens. I’d like to see the entire house of cards collapse and have the vapor money billionaires join the ranks of the working poor.
Aimlow Joe
http://www.aimlow.com

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By: EKirkhuff http://blogs.reuters.com/felix-salmon/2010/04/28/roubini-on-greece/comment-page-1/#comment-14161 Wed, 28 Apr 2010 16:50:29 +0000 http://blogs.reuters.com/felix-salmon/?p=3602#comment-14161 The Goldman situation is going to run along site Greece and well the comment above about getting rid of the welfare handouts in Greece is a reality.

I just was not certain if they were referring to Greece or our newest US Democratic Presidential welfare state push which is just starting to crumble.

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By: Mitchskan http://blogs.reuters.com/felix-salmon/2010/04/28/roubini-on-greece/comment-page-1/#comment-14159 Wed, 28 Apr 2010 16:19:51 +0000 http://blogs.reuters.com/felix-salmon/?p=3602#comment-14159 Let’s get to the bottom line. Greece is a total welfare state and no one wants to produce. Until they ditch their dead-end social welfare handouts, the situation will never change.

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By: ggadams http://blogs.reuters.com/felix-salmon/2010/04/28/roubini-on-greece/comment-page-1/#comment-14158 Wed, 28 Apr 2010 16:06:39 +0000 http://blogs.reuters.com/felix-salmon/?p=3602#comment-14158 The trillions figure was right–the number has nothing to do with the size of the economies involved, but also involves a variety of highly leveraged derivative contracts (credit default swaps, interest rate swaps, etc). Greece manipulated its deficit numbers back in 2002, or they couldn’t have met the requirements for joining the Eurozone, and have consistently manipulated them since then. As anyone who has spent much time in Greece will tell you, it is a very beautiful country with an economy built on patronage positions, in and out of government. Those are in jeopardy with the economic reforms demanded, and are not going to happen. You have already seem the response from the public service unions–and they are only just getting going. Greece has little industrial production and depends heavily on tourism. I can tell you that travel from the U.S. became much more expensive when they went to the Euro. Leaving the Euro would have the advantage that they could inflate their way out of the problem as England and the U.S. are doing. But that can only happen when you have control over your own currency–something Roubini has argued for years (correctly, I think). The Argentina solution would be fine if Greece didn’t need to go to the credit markets, hat in hand, on into the future.

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By: alan10 http://blogs.reuters.com/felix-salmon/2010/04/28/roubini-on-greece/comment-page-1/#comment-14157 Wed, 28 Apr 2010 16:05:43 +0000 http://blogs.reuters.com/felix-salmon/?p=3602#comment-14157 Not to worry, once Goldman is sorted out, the U.S. will be bailing out Greece. Remember the Azores.

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