The Greek Debt Crisis (SMASH CAPITALISM)

[CN3089]

So Greece just passed a range of measures including tax hikes and spending cuts to qualify for a $150 000 000 000 bailout loan to avoid defaulting. Greeks weren't too pleased and rioted, trying to storm parliament and the finance ministry. The dow jones just plummeted 900 points when footage was shown on news networks.



http://i29.photobucket.com/albums/c251/CN3089/Y3xC4.jpg


Use this thread to talk about the coming downfall of europe* :allears:



The dow jones just plummeted 900 points

update: looks like this was mostly because of a faulty stock quote lol



*this will not actually happen

The euro's going to be worth a whole let less real soon, though.

[Cojafoji]

When Merkel (Germany's Chancellor) started to even talk about the bailout, the euro started to drop. The worst part about this bailout is that it's partly funded by the IMF. Hopefully, you all fully realize that the IMF ruins countries (http://www.socialistworker.org.uk/art.php?id=12349). This wasn't a good idea as the people of Greece weren't in favor of it, and neither was most of Europe.

For a good run down on the current situation in Greece, check this out (http://english.aljazeera.net/news/europe/2010/04/201042961414904780.html).

For an in depth on the IMF's rape of Jamaica, check out the documentary "Life & Debt."
Part 1. (http://www.livevideo.com/video/BESToftheBEST/8572389162284FFD9468AD17757C5D95/life-and-debt-1of-4.aspx)
Part 2. (http://www.livevideo.com/video/BESToftheBEST/5D52F7AC943849E8812F947A3F773653/life-and-debt-2of-4.aspx)
Part 3. (http://www.livevideo.com/video/BESToftheBEST/D2121E20B3684A9BA393E0B61E8320A5/life-and-debt-3of-4.aspx)
Part 4. (http://www.livevideo.com/video/BESToftheBEST/A21ED0E47BC54A7191549BB396A4B22B/life-and-debt-4of-4.aspx)

[Dwood]

What does this have to do with capitalism again?

[Kornman00]

This bites. I had invested in a few hundred euros a while back that I was hoping to turn a profit on when I got back to the states :|

so goes investments vOv. IIRC, the exchange rate hasn't been near this high ever since I first got here in the beginning of 2007.

[Dwood]

What does this have to do with capitalism again? And you're quoting a socialist site. It's going to be biased no matter what.

In fact, Greece is pretty socialist, which kind of is why they're in debt...

From the article you posted Coja:



These included benefit programmes, the public sector and government committees, as well as loss making utilities, such as Olympic Airways, the national airline, that was eventually privatised in 2008.[cut some out]

The government's benevolence allowed civil servants to retire in their 40s and permitted their unmarried or divorced daughters to collect their pension after they had died, the latter at a cost of about $70 million annually by some estimates.


Looks pretty socialist to me...



However, about 80 per cent of the defence budget is spent on administrative and staff payments.

Yeah. There's something wrong with that country and their mindset.

[Cojafoji]

He was probably just trying to be funny. Who gives a shit what's in the title. Discuss the current event, and not the topic title.

[Dwood]

He was probably just trying to be funny. Who gives a shit what's in the title. Discuss the current event, and not the topic title.

"you" as in You, coja.

[Bodzilla]

What does this have to do with capitalism again? And you're quoting a socialist site. It's going to be biased no matter what.

In fact, Greece is pretty socialist, which kind of is why they're in debt...

From the article you posted Coja:



Looks pretty socialist to me...



Yeah. There's something wrong with that country and their mindset.
You dont understand what socialism is. Your just spinning shit thats been sensationalized by corrupt questionable news networks.

[CN3089]

What does this have to do with capitalism again?

I was going to use this picture (http://i29.photobucket.com/albums/c251/CN3089/smash_capitalism_dog2.jpg) but I decided not to then I forgot to edit that out before I hit post :ohdear:

[Warsaw]

@Bod: Well, to be fair, people plodding on capitalism are doing the same thing. That's why I prefer not to jump on either bandwagon. I prefer to play both sides in elections for my own interests, which is what I would expect anyone else to do.

I think this bailout is a load of bull. Not even the German people wanted to do it. I think someone is going to lose the next upcoming election...

[CN3089]

I think it's probably 50/50 whether the current greek government even survives the week



also the faulty stock quote:

http://i29.photobucket.com/albums/c251/CN3089/wahwah.jpg


horns.aiff

[Sel]

http://images.brisbanetimes.com.au/2010/05/06/1414008/420_riot1-420x0.jpg

pretty creepy picture to see on the front page of a newspaper huh

[sdavis117]

The Stock Crash that happened today was actually due to a typo. A broker meant to sell $15m worth of stocks, but accidentally put in a "b" instead, so he sold $15b worth in stocks.

[Dwood]

He better hf with buying back all those shorts. :)

[Cojafoji]

The Stock Crash that happened today was actually due to a typo. A broker meant to sell $15m worth of stocks, but accidentally put in a "b" instead, so he sold $15b worth in stocks.
Not entirely true. The WSJ is saying that the market had already dropped 500 points when the error caused the major sellout. Source here (http://online.wsj.com/article/SB10001424052748704370704575228664083620340.html).

[English Mobster]

Every time I look at this thread's title, I read "The Geek Debt Crisis".

[Dwood]

I was going to use this picture (http://i29.photobucket.com/albums/c251/CN3089/smash_capitalism_dog2.jpg) but I decided not to then I forgot to edit that out before I hit post :ohdear:

Oh, that actually explains a lot.

[paladin]

When 1 in 4 people work for the government, and when the government promises things to it's employees, like ridiculous pensions, compensation, and wages, and cant afford them, and that is Capitalisms fault? :ehhh:

[Dwood]

Ask the people who brought on the debt mb?

[sleepy1212]

When 1 in 4 people work for the government, and when the government promises things to it's employees, like ridiculous pensions, compensation, and wages, and cant afford them, and that is Capitalisms fault? :ehhh:

you forgot about federal regulation down to the shit paper in employee bathrooms, playing corporate favorites in legislation, and appointing CEO's to federal positions overseeing their former employers, but good start :D

must spread rep :sigh:

[EX12693]

It's not capitalism. It's Socialism. Government-regulated everything is socialism.

[Warsaw]

No, governmet-regulated everything is totalitarianism.

:eng101:

[paladin]

Haah , true