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To: Zhang Fei

Well, that chart is certainly meaningful! I see that we are 4.6 points ahead of Greece and Greece is tied with Japan. That must mean that Greece is doing pretty good, eh?


54 posted on 05/01/2013 6:26:28 AM PDT by Colorado Doug (Now I know how the Indians felt to be sold out for a few beads and trinkets)
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To: Colorado Doug
Well, that chart is certainly meaningful! I see that we are 4.6 points ahead of Greece and Greece is tied with Japan. That must mean that Greece is doing pretty good, eh?

Greek trade policies are pretty much consistent with its other macroeconomic policies that discourage free enterprise. Japan gets away with a closed market because the Japanese are hardcore - they work hard even when nobody's watching, and their products are protected against competition from imports, and this has worked for a number of sectors like automobiles and machine tools. Greece has tourism. Among other problematic policies, Greece has a cradle to grave welfare scheme that allows barbers (among other workers in "high stress occupations") to retire with a state-funded pension at age 50, along with an essentially unregulated financial system. Setting up a business in Greece involves huge amounts of red tape and overlapping sets of palms that have to be greased. The problems with the way the Greek economy is run are so numerous, it's amusing it took this long for the piper to come calling.

55 posted on 05/01/2013 6:52:39 AM PDT by Zhang Fei (Let us pray that peace be now restored to the world and that God will preserve it always.)
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