Greeks stage huge Athens rally against austerity cuts

[Lumi]

Greeks stage huge Athens rally against austerity cuts
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June 6, 2011

At least 60,000 protesters angered by cuts and tax rises packed into central Athens as Greek PM George Papandreou planned further austerity measures.

The crowd in Syntagma Square rallied outside parliament on Sunday night chanting ?thieves!?
It was reckoned to be the biggest demo in 12 consecutive days of protests.
Mr Papandreou is trying to boost support for an updated austerity plan in his centre-left Pasok party before presenting it to parliament.

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[Skulnik]

And our NEWS MEDIA will not report it, they saw what it did to our stock markets last year.

:0074

 

[ssd]

Lumi:
I heard it was 80k and that there were sidestreets packed that could not be counted.

The bailouts are assuring that the banks will not lose on their bond purchases....on the back of taxpayers.

Banks took the risk yet the public bears the burden.


When will it start here?

 

[jimmy the greek]

when i was in greece, it was too hot to protest lol, think i would've slept through this one.


the usa is ten times more broke than greece, but it is what it is.


we could use a good snakeoil salesman front man.

 

[Duff Miver]

The key thing to understand about Greece?s predicament is that it?s not just a matter of excessive debt. Greece?s public debt, at 113 percent of G.D.P., is indeed high, but other countries have dealt with similar levels of debt without crisis. For example, in 1946, the United States, having just emerged from World War II, had federal debt equal to 122 percent of G.D.P. Yet investors were relaxed, and rightly so: Over the next decade the ratio of U.S. debt to G.D.P. was cut nearly in half, easing any concerns people might have had about our ability to pay what we owed. And debt as a percentage of G.D.P. continued to fall in the decades that followed, hitting a low of 33 percent in 1981.

Perhaps a bit confusing for some here, like Maggot, but for the literate, full article here -

http://www.nytimes.com/2010/04/09/opinion/09krugman.html

Now just watch. Maggot will be right along, claiming that he, Maggot, understands economics better than Krugman.

 

[JT]

1981, lol guess who became president? Most overrated one in history. :facepalm:

 

[Skulnik]

1981, lol guess who became president? Most overrated one in history. :facepalm:

That President replaced the Second Worst President of all time, Obama has taken that TITLE in just two years.

PITY REALLY

Hope and Change my ASS!!!


JMHO

 

[ssd]

Sorry, Muff.

Krugman is an idiot. Most economists are. They are like weathermen - they predict and predict incorrectly most of the time, explain it away as an anomaly, then continue to predict wrongly.

What a job.

Most Western civilizations are hosed. The debt levels across the board are way too high.

The debt cycle is coming home to roost, sooner or later. There is not enough money in the world to handle all the obligations and each year, the unfunded obligations grow bigger. it is only a matter of time before implosion. Greece is just a sneak preview of what is to come elsewhere, including the US.

 

[Duff Miver]

Sorry, Muff.

Krugman is an idiot. Most economists are. They are like weathermen - they predict and predict incorrectly most of the time, explain it away as an anomaly, then continue to predict wrongly.

What a job.

Most Western civilizations are hosed. The debt levels across the board are way too high.

The debt cycle is coming home to roost, sooner or later. There is not enough money in the world to handle all the obligations and each year, the unfunded obligations grow bigger. it is only a matter of time before implosion. Greece is just a sneak preview of what is to come elsewhere, including the US.

After WWII the USA was in deeper, but that enormous debt was paid down by 2/3 over the next 15 years.

It can be done again.

After WWII taxes were raised, especially on the wealthy (top marginal rate = 90%). There was low unemployment, the middle class grew and became more prosperous, investments were made and the rich prospered too.

The Republican (and some Dems too) present recipe is cut taxes, cut spending. That didn't work during the great depression, and it won't work now.

Krugman? Well, he isn't perfect, but he's smarter than I. Maybe even smarter than you. Maybe.

 

[rusty]

Greece is fawked,JMHO!!PITY REALLY!!:0008

 

[ssd]

Muff:
I doubt he is smarter than you or I. Seriously, we have life experience - most of those guys have book learning.

Big difference.

I hate Keynesians. I apply to the Austrian school of economics.


I wouldn't give you 2 wooden nickels for a Nobel.