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Greece struggles to find creditors

fairsheet

Senator
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?).
 

fairsheet

Senator
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.
 

Jets

Conservative Pragmatist
Perhaps you can hint us as to how this "principle" of yours, has played out in the context of your own entreprenueirialship (sic?).
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.
 

Jets

Conservative Pragmatist
Why would you ask that silly question?
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?
 

fairsheet

Senator
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?
I responded to what YOU posted in the form of an absolutism. I didn't mention Greece.
 

freyasman

Senator
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.
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.
 

Max R.

On the road
Supporting Member
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.
I think Detroit would give them a good basis of comparison.

It appears Puerto Rico isn't very well run either: http://www.cnbc.com/id/102795243
With Puerto Rico's dire financial and economic situation becoming more acute almost by the day, the commonwealth's population, creditors and government each face a new and serious set of problems. (Tweet This)

"People with options are going to leave Puerto Rico," said José Joaquín Villamil, chairman and CEO of Estudios Técnicos, a business and economic consulting firm based in San Juan.

Puerto Rico's population has been steadily declining since 2004, according to a New York Federal Reserve report. "Over the last decade, the number of residents has dropped to 3.6 million, a loss of more than 5 percent of the Island's population," the report said, adding that the decline is due in large part to an out-migration of Puerto Rican citizens to the mainland.

"The Jones Act of 1917 granted U.S. citizenship to the people of Puerto Rico, allowing them to move freely between the island and the U.S. mainland. This mobility has led more Puerto Rican workers to leave the island in greater numbers when economic opportunities have dwindled," the bank said.
 
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 average family income in Greece is between £400 and £500 per month.
 

Jets

Conservative Pragmatist
Right now, Greece is a very bad investment. In my opinion, the risks are too high.
 
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.
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 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 ---
 
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.
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?
 

freyasman

Senator
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?
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.
 
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.
OK --- Still it is interesting eh? And that their credit went to Germany for military equipment ---
 
It might be a good time to invest in some property there.
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.

We all suffer --- people can't buy where they were born anymore so communities and ways of life disappear --- but hey 'if you don't someone else will' --- Those countries who care make Laws disallowing foreigners buying their peoples inherent inheritance and always for the mistakes of greedy corrupt short sighted politicos.

Anyway I think Russia has already bought it ---
 
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