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Date Posted: 10:51:31 05/01/10 Sat
Author: Paul Davis
Subject: Re: Greece is close to default
In reply to: Jeffman 's message, "Re: Greece is close to default" on 12:57:08 04/30/10 Fri


More to ignorant spending than excessive spending, IMHO. Example, Greek govt workers can get 14 months paid per year. How? There's only 12 months in a year! Ignorant spending....

A musician in Greece gets to retire on Greek social security ten years early. Why? Becasue they stand up to play. Ignorant spending....

Borrowing to build something that cuts costs and raises profits, then refusing to raise taxes to pay for it, that's the US way to excess. But even if we default, the road or the bridge or the airport is still there, it's not going to be rolled up and taken away by a bank. This Greek stuff is just about incomprehensible.


>Yes this could be a global mess.. its been a long time
>coming. Ive been warning people for years about the
>excessive spending for all countries. Ive been told I
>didnt know what I was talking about...and here we are.
>It sucs to be right.
>
>>That's going to be a mess. I doubt they'll last long
>>enough for a bailout to be passed, even if it does,
>>it's only enough for a year, next year they'll be back
>>for more.
>>
>>And if Greece gets a bailout, Spain, Portugal and
>>Ireland will be next. It's just not going to work.
>>
>>Prepare for failing banks and falling currencies.

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