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Old 05-05-2010, 09:37 PM
 
Location: Sputnik Planitia
7,006 posts, read 9,785,656 times
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This is a good watch, about 25 mins or so:


YouTube - The Bankrupt State - Greece

Here is one thing I noted...retirement in their 40s????? Excuse me?
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Old 05-05-2010, 09:46 PM
 
Location: Great State of Texas
86,068 posts, read 77,067,933 times
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And they get 14 months of pay for 12 months of work.
Cutting that 2 months of "bonus" money is part of their austerity plan.
Oh..and women cannot retire until 65. Yes, they specifically called out women in their austerity plan.
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Old 05-06-2010, 04:16 AM
 
21,696 posts, read 19,458,447 times
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They'll have to get used to a more " spartan" lifestyle. Bum dum bum.
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Old 05-06-2010, 04:27 AM
 
Location: western East Roman Empire
8,123 posts, read 11,929,114 times
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Quote:
Originally Posted by Icy Tea View Post
They'll have to get used to a more " spartan" lifestyle. Bum dum bum.
Not that far back, but more like to where they were 20-30 years ago.

Greece was among the last laggards to grab onto the coattails of the by now declining countries of early industrialization and so it is one of the first to fall.

No surprise, then, that Portugal could be next.

In general it would also be no surprise to see the standard of living for most people in the countries of early industrialization to revert back to what it was about 30-40 years ago - with a few extra perks like easy telecommunications -, while that of many people in the emerging countries rises towards that level.

In short, the Cold War and "Third World-ism" acted as a damn that kept people "special", but now we are all drowning in a flood of mediocrity triggered by globalization.

Those who study history have seen this film before.

So what?

Devaluation can be good.

Last edited by bale002; 05-06-2010 at 05:05 AM..
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Old 05-06-2010, 11:30 AM
 
21,696 posts, read 19,458,447 times
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Let's call it the " Apocalypse at the Acropolis." Or "Athens, Athens, the Euro all falls down."
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Old 05-06-2010, 11:42 AM
 
Location: City of North Las Vegas, NV
11,513 posts, read 8,324,226 times
Reputation: 3105
topic further discussed here:

//www.city-data.com/forum/inves...l#post14059651

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Old 05-06-2010, 01:34 PM
 
Location: San Diego California
6,797 posts, read 6,658,228 times
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What is happening in Greece is systematic of what is now happening in Bond markets worldwide. Within 3-5 years we will be suffering from the repercussions of our own insolvency.
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Old 05-06-2010, 03:28 PM
 
Location: City of North Las Vegas, NV
11,513 posts, read 8,324,226 times
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Quote:
Originally Posted by HappyTexan View Post
And they get 14 months of pay for 12 months of work.
Cutting that 2 months of "bonus" money is part of their austerity plan.
Oh..and women cannot retire until 65. Yes, they specifically called out women in their austerity plan.
I suppose you have no idea how high the cost of living is in Greece and how low the wages are. Cutting back the 13 and 14th paycheck could make the difference in putting food on their tables. And no, Greece doesn't have good social safety nets like welfare as we do here.
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Old 05-06-2010, 04:45 PM
 
Location: Great State of Texas
86,068 posts, read 77,067,933 times
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Quote:
Originally Posted by WildWestDude View Post
I suppose you have no idea how high the cost of living is in Greece and how low the wages are. Cutting back the 13 and 14th paycheck could make the difference in putting food on their tables. And no, Greece doesn't have good social safety nets like welfare as we do here.
Actually I don't know the cost of living, nor the wages. This is the government cutting back, not private companies.
All I have read though points to them spending far more then they take in and borrowing more to cover their growing debts.

Sounds like the same path the US is on.
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Old 05-09-2010, 12:03 PM
 
Location: Backwoods of Maine
7,321 posts, read 9,069,341 times
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Quote:
Originally Posted by HappyTexan View Post
Sounds like the same path the US is on.
It IS the same path the US is on!

California's debt makes Greece's look like a small checkbook miscalculation. Americans have no idea what will hit the fan when CA, MI, NY, NJ, FL, and the rest of the "broke 33" reach the end of their credit limits. Of course, they will all be bailed out. Of course, we will have hyperinflation from all the printing press $$$ needed to do so.

Got gold?
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