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New awesome
The European Union and the International Monetary Fund (IMF) has so far pumped 229 billion euros into Greece. Out of this striking figure, however, only 27 billion euros (11 percent) was spent on the provision of public services.

The continuous printing of money in the US and the increase of distance between the 1% and the rest of us isn't co-related?

Ever try to buy bacon lately?

PK and yourself has stated for years that government borrowing is the answer, greece has done a boatbuttload of that and now it is starting to hurt. Sure it is a smaller economy than ours but it still works the same way.
Any opinions expressed by me are mine alone, posted from my home computer, on my own time as a free American and do not reflect the opinions of any person or company that I have had professional relations with in the past 59 years. meep
New Read it again.
The Greek people aren't getting the money.

Prices on one item isn't an reasonable indication of inflation. Billion Prices Index - inflation in the US is too low. Where's the inflation? What happened to this reasonably sensible guy who posted here in 2002? ;-)

Where's this "continuous printing of money" that you're talking about? Entries in a spreadsheet at the Fed isn't money circulating in the economy.

But you apparently don't accept that an economy can have too little demand, so we're going to continue talking past each other. You might enjoy how Germany recovered after Weimar though:

Charles Dawes was the US budget director. In 1923, he was sent to Europe to sort out Germany's economy. Under his advice, the German Reichsbank was reformed and the old money was called in and burned. This ended the hyperinflation. Dawes also arranged the Dawes Plan with Stresemann, which gave Germany longer to pay reparations. Most importantly, Dawes agreed to America lending Germany 800 million gold marks, which kick-started the German economy.


Imagine that - spending money gets the economy going. (And no, the lesson isn't returning to the gold standard... :-/)

Cheers,
Scott.
New CR has some tables.
CalculatedRisk:

Although Greece mostly lived up to the terms of the bailout, the promised growth never materialized (see tables below). As Greek Prime Minister recently said: "We are not negotiating the bailout; it was cancelled by its own failure.

The only choices are to allow Greece to run a smaller primary surplus or for Greece to leave the Eurozone and default on all their debt. The first choice seems likely, but not without some drama.

Note: Greece would have left the Eurozone in 2010 if the actual numbers below had been the plan. No politician would have signed up for that economic devastation!


Unemployment was supposed to be 14% in 2014 according to the IMF forecasts. Instead, it was around 27%.

:-(

Cheers,
Scott.
New U.S. debt is in dollars. Greek debt it in euros. Do you think this matters?
--

Drew
     PK has a scary graph about Greece today. - (Another Scott) - (8)
         no, you cannot have it both ways - (boxley) - (6)
             That's not his argument. - (Another Scott) - (4)
                 awesome - (boxley) - (3)
                     Read it again. - (Another Scott) - (1)
                         CR has some tables. - (Another Scott)
                     U.S. debt is in dollars. Greek debt it in euros. Do you think this matters? -NT - (drook)
             How about disagreeing with something he's actually said? -NT - (drook)
         Time to build that 100 foot fence around Greece. - (a6l6e6x)

Comfort the afflicted; afflict the comfortable.
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