Comments on: Eurobonds: The Issue That Could Shatter Europe

By: AT

AT — Tue, 19 Jun 2012 16:41:44 +0000

No, incredibly stupid comment. People who borrow money they can’t repay bear 100% of the responsibility for their situation, and the fact that so many defaulters believe the people who loaned them money should share the blame simply demonstrates their moral depravity.

By: Scotty

Scotty — Sun, 03 Jun 2012 02:50:50 +0000

That my friend sums it up nicely. All the economic activity has migrated to Asia. How does one live within their means if they no longer have any means? One way is an early death. That would reduce surplus labor would it not?
The truth be told. both Germany and Asia will be singing the mercantile blues real soon. No more markets for surplus production for the Germans now that their vendor financing schemes are backfiring. And China, well they don’t actually feel the need to pay people enough to slurp up their surplus production. They are headed the same place Germany is despite all the Teutonic frugality.
Oh woe unto us the dollar is failing. The next day the Chinese central bank unveils a plan to devalue the yuan to protect exporters tisk tisk.
What we are witnessing is the great leveling. Globalization squared. No one will be spared. First it will be the elderly and the ill. Society can no longer be able to afford to keep everyone around for so long. I think next will be the so called middle class. Fat out of shape bodies will fall apart when confronted by honest labor, and a much reduced standard of living. Besides far fewer people will be needed to man phones in a collapsed and greatly simplified economy. ect ect
The age of specialization draws to a close, no Jetsons future coming to easy our immiseration. Eventually after the die back, production again becomes local. The ground again cleared, the stage is now set for a rebirth of globalization, and so infinity.

By: Divemedic

Divemedic — Wed, 30 May 2012 12:03:06 +0000

We were sovereign states until 1865. The civil war settled the issue of state versus national control. If things continue, I see strife and war in Europe’s future.

By: Chrissy

Chrissy — Tue, 29 May 2012 20:40:32 +0000

The reason we in Europe can’t be compared to US is that WE ARE NOT STATES. We are sovereign countries – even though the EU would have it otherwise.

By: Rodster

Rodster — Mon, 28 May 2012 19:31:41 +0000

Another reason why a Country should not default. Argentina is still a mess after so many years of bankruptcy and their citizens still try and avoid paying taxes. So much for socialist wanting to share in each others pain.

Argentina: More controls for buying US dollars
http://news.yahoo.com/argentina-more-controls-buying-us-dollars-180240507.html

“Many Argentines only declare part of their wealth and income to evade taxes, and use black-market currency exchanges to convert their inflationary pesos into dollars. Travel agencies are the latest target since they manage multiple currencies and offer customers black-market rates for their money.

President Cristina Fernandez is cracking down to keep hard currency from flowing out of Argentina, which needs the dollars to maintain its central bank reserves and pay debts.”

By: xander cross

xander cross — Mon, 28 May 2012 15:46:09 +0000

Good post.

By: GaryToo

GaryToo — Mon, 28 May 2012 12:12:09 +0000

great comment

By: Dickens

Dickens — Mon, 28 May 2012 11:05:13 +0000

Here is a novel idea – abandon limited liability companies. Then watch the debt levels collapse as shareholders including directors, realise they will be responsible for them. Also ensure bankruptcy means bankruptcy. Dickens knew more about the economy in 1850 than most do today. His character Wilkins Micawber established this principle in ‘David Copperfield’

“Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.”

By: Gary2

Gary2 — Sun, 27 May 2012 18:13:40 +0000

oh yeah all that government investments and research that the private sector capitalizes on like the internet, many medicines etc.

Capitalism=greed there is no difference as capitalism is predicated on self interest and selfishness.

Jesus was a socialist and would condemn capitalism. He threw out the capitalists from the temple and regularly told the rich to give to the poor.

Tax the greedy to help the needy is what he was saying in so many words. It would also save the greedy riches soul–eye of needle and camel et al.

By: Gary2

Gary2 — Sun, 27 May 2012 18:08:52 +0000

You have heard of the printing press correct? You know the machine that can print money??

If the gov prints money and gives it to be and I go to best buy and purchase a new computer I am very sure best buy will take the money the gov printed and gave to me.

What are interest rates for US borrowing?? like .001% or something like that?

Clearly the government can borrow and spend all it wants and in fact we need a huge stimulus like Dr. Krugman advocates. 4-5 times larger than the first. We can then easily grow our way out of any debt issues. Interest rates are at the lowest ever, and we should be more concerned with ending this depression now and not about any debt issues.

On a more micro level I work with a person who regularly spends money she does not have by running up credit card debt (up to $60,000)goes bankrupt and walks away from it and then in a few years starts the process all over again.

Good for her she is doing some of her own wealth redistribution. All she is doing is privatizing the gains and socializing the looses just like the rich do. If the credit card companies are dumb enough to lend to her then that’s their loss. I encourage her to write a book on how to do this wealth redistribution. She has a lot of good memories on vacations etc that were “free”.

BTW–A good reputation is way over rated.