fairsheet
Senator
Perhaps you can hint us as to how this "principle" of yours, has played out in the context of your own entreprenueirialship (sic?).Not if the debt keeps accumulating, than it becomes a loss. Thats why some go out of bidness.
Perhaps you can hint us as to how this "principle" of yours, has played out in the context of your own entreprenueirialship (sic?).Not if the debt keeps accumulating, than it becomes a loss. Thats why some go out of bidness.
For what it's worth, if the debt in question is generating more income than loss/cost, it absolutely does NOT become a loss under any circumstances.Not if the debt keeps accumulating, than it becomes a loss. Thats why some go out of bidness.
Thats why I said "some" not "all" go out of business. If a business keeps having to borrow and keeps losing money and closes its doors, my point has been made. Again, just my opinion here.Perhaps you can hint us as to how this "principle" of yours, has played out in the context of your own entreprenueirialship (sic?).
And you think this applies to Greece?For what it's worth, if the debt in question is generating more income than loss/cost, it absolutely does NOT become a loss under any circumstances.
Why would you ask that silly question?And you think this applies to Greece?
Because if "the debt in question is generating more income than loss/cost, it absolutely does NOT become a loss under any circumstances", than why is Greece in the position it is in?Why would you ask that silly question?
I responded to what YOU posted in the form of an absolutism. I didn't mention Greece.Because if "the debt in question is generating more income than loss/cost, it absolutely does NOT become a loss under any circumstances", than why is Greece in the position it is in?
Fair enoughI responded to what YOU posted in the form of an absolutism. I didn't mention Greece.
The widespread, systemic corruption there was a large factor as well. Since I'm not familiar with Greece, I couldn't say if they have similar issues.... I hope not.It's up to the Greeks. Like US cities/states that overspent and then blamed others for their problems, in the end, it is up to the Greeks to get their financial house in order or suffer the consequences.
I think Detroit would give them a good basis of comparison.The widespread, systemic corruption there was a large factor as well. Since I'm not familiar with Greece, I couldn't say if they have similar issues.... I hope not.
Greek Credit went on Military equipment, they were the 4th highest buyer of Arms, in the World, after they were allowed into the Euro, most of it bought from Germany -- subs and fighter planes and such like. Was that a part of the deal which allowed them in? I dunno but the World Bank always has weird strings attached to all of it's deals.The widespread, systemic corruption there was a large factor as well. Since I'm not familiar with Greece, I couldn't say if they have similar issues.... I hope not.
Their creditors have all the Greek money, it was they that Greece spent their credit with, on Military equipment. NATO took it all.Oh, I completely agree. You can not keep throwing good money after bad. At some point Greece will have to make a major shift and change in its culture. I think their creditors are going to make that happen sooner, rather than later.
It always wasHey...and perhaps Greece becomes a cheap vacation destination
It was and is poor --- the ordinary people have not gained a thing -- change their culture? Jesus, how does one change a culture of thousands of years? You really do want everywhere to be exactly the same don't you? Same airports, same hotels, same malls ---Oh, I completely agree. You can not keep throwing good money after bad. At some point Greece will have to make a major shift and change in its culture. I think their creditors are going to make that happen sooner, rather than later.
Whose corruption?The widespread, systemic corruption there was a large factor as well. Since I'm not familiar with Greece, I couldn't say if they have similar issues.... I hope not.
That was in reference to Argentina's financial collapse, and I was saying that corruption was one of the reasons they still hadn't recovered. Re-read the post Queen.Whose corruption?
'Goldman Sachs helped the Greek government to mask the true extent of its deficit with the help of a derivatives deal that legally circumvented the EU Maastricht deficit rules. At some point the so-called cross currency swaps will mature, and swell the country's already bloated deficit.'
http://www.spiegel.de/international/europe/greek-debt-crisis-how-goldman-sachs-helped-greece-to-mask-its-true-debt-a-676634.html
I wonder why?
OK --- Still it is interesting eh? And that their credit went to Germany for military equipment ---That was in reference to Argentina's financial collapse, and I was saying that corruption was one of the reasons they still hadn't recovered. Re-read the post Queen.
It might be a good time to invest in some property there.OK --- Still it is interesting eh? And that their credit went to Germany for military equipment ---
How truly wicked --- An acquaintance of mine, of long standing, I can't truly call him a friend I don't think, though he would count me as one, because morally for all sorts of things and his always saying 'if I hadn't done it someone else would have done' ---- anyway he and his partner/now wife for financial reasons --- bought half a Greek Island with Olive Groves because it just didn't sustain the family anymore (due to the EU prices/'cherry picking' who gets the subsidies) so the young had go and find work elsewhere and the family sold most of their Land --- My 'friend' wasn't even going to employ them to pick the Olives, mean little ---- , he did in the end though.It might be a good time to invest in some property there.