Posted on 07/05/2015 1:25:08 PM PDT by SamAdams76
Apparently there was a "referendum" in Greece and the results are surprising. The Greeks rejected some sort of measure to impose "austerity" in exchange for EU bailout.
It is being seen as a "shocking rebuff" to the European leaders and the Euro is taking a tumble on the markets.
Drudge says "EU on brink." Others say Greece is a "beleaguered country."
Is this what happens when socialism runs out of "other people's money."
I must regret to say I have not been following this story as much as I should have on account of the summer routine. So I'm hoping that some more astute Freepers will fill me in on whether or not we in the United States should worry.
I do know one thing. I'm buying my olive oil from domestic sources. I used to get olive oil from Greece but no more.
What else does Greece export to the United States besides olive oil? Other than short politicians with garlic breath who are for big socialist government (i.e. Mike Dukakis).
it means everyone’s 40k is about to take a big hit. obama says it’s all fine, though, and he’s an expert on everything. he says that greece is the JV of international economies.
I’m sure we’ll all be fine.
crap. correction. 401k. doh!
Keep away from a woman like that!
popcorn throwing contest
WE IS OWED!!!
Look for that to become a VERY unfortunate picture/meme.
Fly catching competition?
They used to be called that...
This is what Paul Krugman says is the correct approach to economic policy. Of course, this is the path to one world government.
There are five key things tied to Greece and it’s ‘mess’.
First, for over 2,500 years....Greece has had a tax issue. Greeks took it personal and a lot of merchants left the area over taxes. Over the past fifty years....Greeks learned tax avoidance. If you find any Greek who makes over $100,000 a year....he practicing some type of avoidance in his daily business. Fair-share in taxation in Greece....is a joke.
Second, once tourism arrived in the 1960s....Greek political folks pressed forward on infrastructure and had thousands of projects being worked....way ahead of the tax schedule. So they borrowed money to pay for the projects. The guys running the tax revenue business and the spending business....never talked together. So they kept out-spending what was coming in.
Third, the socialist government of the past 50 years have promised tons of programs. Each had a cost. No one ever asked if they were ever exceeding their revenue potential. Well...they were.
Fourth, the Olympic Games had a huge cost....arenas, the int’l airport, roads, and the subway system. Well...again, they never had the money.
Fifth, when they came to join into the Euro....they were totally unprepared, but needed the Euro. They faked the books and got entry.
My Big Fat Greek Debting
That's what I was looking for.
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I thought another cause was also illegal immigration. Not as bad there as Italy but still enough to help drag them down.
I thought she was a Hillary supporter at a Ted Cruz rally.
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