They will have a depression now.

1,095 registered users | 1 active user | 1 LpH | Statistics
Login | Create New User

Welcome to IWETHEY!

Post #403,019 by a6l6e6x 6/28/15 9:36:02 PM Reply	They will have a depression now. It's a self inflicted spiral down the drain. I agree that just austerity is not a solution and in the EU they can't print or devalue currency. That's the down side of the EU arrangement for all members. They'll get their drachma, inflation will take off, unemployment will spike higher, they'll quit buying other country's stuff, the pensions they didn't lower will become next to worthless, and they'll become the low cost vacation destination for Europe. But on the plus side, even the migrants from the Middle East and Africa will seek other European countries. Alex "There is a cult of ignorance in the United States, and there has always been. The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that "my ignorance is just as good as your knowledge." -- Isaac Asimov
Post #403,021 by Another Scott 6/28/15 10:35:35 PM Reply	25+% unemployment for 3+ years isn't already a depression? http://www.tradingeconomics.com/greece/unemployment-rate Cheers, Scott.
Post #403,022 by boxley 6/28/15 10:46:54 PM Reply	is that american unemployment measure or really counting all the people out of work? 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
Post #403,025 by Another Scott 6/28/15 10:58:30 PM Reply	Re: is that american unemployment measure or really counting all the people out of work? In Greece, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force. BLS: The official unemployment rate for the nation is the number of unemployed as a percentage of the labor force (the sum of the employed and unemployed). It seems pretty comparable. Greece is suffering and has been for a long time. Cheers, Scott.
Post #403,027 by a6l6e6x 6/28/15 11:34:39 PM Reply	For one thing BLS has the notion of "discouraged workers". These are folks that have given up and aren't even looking for a job. They are not counted as unemployed! That's why even when new jobs shoot up the unemployment numbers as a percentage often don't change. The discouraged workers start looking again and then are suddenly counted as unemployed. Alex "There is a cult of ignorance in the United States, and there has always been. The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that "my ignorance is just as good as your knowledge." -- Isaac Asimov
Post #403,024 by a6l6e6x 6/28/15 10:58:14 PM Reply	If it's measured like in the US, then yes. That's about how bad in got in the US. Many folks that lived through that in the 1930's in the US never got over it mentally. "Brother, can you spare a dime?" But, I'm not sure the unemployment measuring in Greece is the same. The US numbers underestimate reality. Also, the Greeks could look for work elsewhere in EU. Cultural and language issues don't help, however. That's another weakness in the EU. Alex "There is a cult of ignorance in the United States, and there has always been. The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that "my ignorance is just as good as your knowledge." -- Isaac Asimov

Greece: It's the politics, stupid! - (Another Scott) - (41) - June 28, 2015, 01:20:49 PM EDT

Nah! The Greek governmaent was elected to stiff the rest of EU. - (a6l6e6x) - (29) - June 28, 2015, 04:52:35 PM EDT

We'll see. - (Another Scott) - (28) - June 28, 2015, 05:46:38 PM EDT

They will have a depression now. - (a6l6e6x) - (5) - June 28, 2015, 09:36:02 PM EDT

25+% unemployment for 3+ years isn't already a depression? - (Another Scott) - (4) - June 28, 2015, 10:35:35 PM EDT

is that american unemployment measure or really counting all the people out of work? -NT - (boxley) - (2) - June 28, 2015, 10:46:54 PM EDT

Re: is that american unemployment measure or really counting all the people out of work? - (Another Scott) - (1) - June 28, 2015, 10:58:30 PM EDT

For one thing BLS has the notion of "discouraged workers". - (a6l6e6x) - June 28, 2015, 11:34:39 PM EDT

If it's measured like in the US, then yes. - (a6l6e6x) - June 28, 2015, 10:58:14 PM EDT

Greece was supposed to have a shallow recession - (pwhysall) - (21) - June 29, 2015, 01:04:39 AM EDT

The endemic tax evasion problem goes back decades. - (static) - (1) - June 29, 2015, 02:20:15 AM EDT

Agreed 100% -NT - (pwhysall) - June 29, 2015, 03:23:31 AM EDT

It's hard to have a primary surplus without collecting taxes... - (Another Scott) - (18) - June 29, 2015, 08:12:27 AM EDT

I don't disagree - (pwhysall) - (3) - June 29, 2015, 09:39:02 AM EDT

Bring back Ottoman rule! :) - (a6l6e6x) - (2) - June 29, 2015, 01:23:45 PM EDT

Yes, but the Turks have much fancier outfits. - (Andrew Grygus) - (1) - July 1, 2015, 12:44:09 PM EDT

you sure? looks like a shriners convention -NT - (boxley) - July 1, 2015, 12:49:12 PM EDT

More on the structural problems facing Greece: - (pwhysall) - (13) - July 7, 2015, 03:19:05 AM EDT

Yeah, if only Syria had not won the election, then the Banksters would have fixed everything... :-/ -NT - (Another Scott) - (12) - July 7, 2015, 01:04:41 PM EDT

So what's your solution? - (pwhysall) - (11) - July 7, 2015, 05:03:31 PM EDT

Excluded middle ... but you know that, right? - (drook) - (10) - July 7, 2015, 05:07:22 PM EDT

OK, how do you do that? - (pwhysall) - (9) - July 7, 2015, 05:10:22 PM EDT

You broke it, you bought it - (drook) - (8) - July 7, 2015, 07:48:10 PM EDT

This. - (Another Scott) - July 8, 2015, 02:18:33 AM EDT

Why not? - (pwhysall) - (6) - July 8, 2015, 02:55:45 AM EDT

I don't know that 12-step programs work on social psychology - (drook) - (4) - July 8, 2015, 09:14:12 AM EDT

Or we could just keep right on tipping money into their economy - (pwhysall) - (3) - July 8, 2015, 12:29:12 PM EDT

Oh, I see, you just make up convenient "facts." - (mmoffitt) - (2) - July 8, 2015, 12:48:45 PM EDT

Whev - (pwhysall) - (1) - July 8, 2015, 01:01:47 PM EDT

Re: EZ countries should just keep right on paying. - (mmoffitt) - July 8, 2015, 04:22:58 PM EDT

Right. - (mmoffitt) - July 8, 2015, 09:22:18 AM EDT

Krugman: The Reverse Corleone - (Another Scott) - (4) - June 28, 2015, 10:50:18 PM EDT

Re: "they made Tsipras an offer he can’t accept" - (a6l6e6x) - (3) - June 28, 2015, 11:09:06 PM EDT

Sure you can. At least for a while. - (crazy) - (1) - June 29, 2015, 08:55:23 AM EDT

:-) -NT - (boxley) - June 29, 2015, 11:06:26 AM EDT

Yeah. Who do they think they are? Wall Street Bankers? -NT - (mmoffitt) - June 29, 2015, 08:55:33 AM EDT

Greece blinked - (crazy) - (2) - July 1, 2015, 09:48:40 AM EDT

It's really hard to know who's giving the straight story on this stuff. - (Another Scott) - July 1, 2015, 11:09:18 AM EDT

They are literally playing games. - (a6l6e6x) - July 1, 2015, 06:09:08 PM EDT

Good article on monetary policy and why the euro was doomed from the start - (crazy) - July 6, 2015, 07:17:32 PM EDT

Piketty (and others) open letter to Frau Merkel. - (mmoffitt) - (1) - July 8, 2015, 10:01:39 AM EDT

Puritanical visions of comeuppances (visited on anonymous Others) ..not just the Murican schadenfreude - (Ashton) - July 10, 2015, 04:20:19 PM EDT

iwethey.org

Debian is Sex.
127 ms