4 ms·

Nice how you ignore the fact that in the two party interaction of giving/getting a loan one party is bailed out and the other made to pay for the foolish loan.

Nice how you ignore the fact that in the two party interaction of giving/getting a loan one party is bailed out and the other made to pay for the foolish loan. Flood a market with cheap credit and people, corporations, governments take it. Banks are just as at fault. You also ignore the incredible imbalance caused by the monetary union.

yummyfajitas 11y ago
I'm not ignoring it. I think the effects are terrible - Germans work so efficiently producing goods and services for others to consume and never get to enjoy the fruits of their own labor.
- yequalsx 11y ago
  You are ignoring the fact that banks are at least as culpable for the bad loans to Greece as the Greeks are. Yet only one party is truly suffering the consequences. There is no gift to Greece. The so called bailout comes with onerous terms and is nothing more than the German government giving money to it's banks via the Greek government. German bankers are not made to pay for their profligacy. Also, clearly the Germans do reap the benefits of their labor. It's hard to argue otherwise given their GDP per capita, purchasing power parity, standard of living, and relative power in Europe. Germany needs a monetary union so that it can be the exporter it is. The import/export imbalances caused by the monetary union has led to the situation Greece and Germany find themselves in. Both parties are at fault.
  - yummyfajitas 11y ago
    You keep trying to bring the topic back to numbers in a computer rather than physical goods and services. Why? Also, clearly the Germans do reap the benefits of their labor. Blatantly false. http://www.tradingeconomics.com/germany/balance-of-trade http://www.tradingeconomics.com/germany/balance-of-trade http://www.tradingeconomics.com/greece/balance-of-trade http://www.tradingeconomics.com/greece/balance-of-trade You even acknowledge this one sentence later: "Germany needs a monetary union so that it can be the exporter it is." I agree that the Germany government is, in part, responsible for policies that make Germans poorer and Greeks richer. So what? It seems like you want to blame Germany since unfortunately the only solution for the Greeks is for the Germans to keep sending them even more stuff (even though the Germans didn't make the Greeks unproductive).

yummyfajitas 11y ago

I'm not ignoring it. I think the effects are terrible - Germans work so efficiently producing goods and services for others to consume and never get to enjoy the fruits of their own labor.

yequalsx 11y ago
You are ignoring the fact that banks are at least as culpable for the bad loans to Greece as the Greeks are. Yet only one party is truly suffering the consequences. There is no gift to Greece. The so called bailout comes with onerous terms and is nothing more than the German government giving money to it's banks via the Greek government. German bankers are not made to pay for their profligacy. Also, clearly the Germans do reap the benefits of their labor. It's hard to argue otherwise given their GDP per capita, purchasing power parity, standard of living, and relative power in Europe. Germany needs a monetary union so that it can be the exporter it is. The import/export imbalances caused by the monetary union has led to the situation Greece and Germany find themselves in. Both parties are at fault.
- yummyfajitas 11y ago
  You keep trying to bring the topic back to numbers in a computer rather than physical goods and services. Why? Also, clearly the Germans do reap the benefits of their labor. Blatantly false. http://www.tradingeconomics.com/germany/balance-of-trade http://www.tradingeconomics.com/germany/balance-of-trade http://www.tradingeconomics.com/greece/balance-of-trade http://www.tradingeconomics.com/greece/balance-of-trade You even acknowledge this one sentence later: "Germany needs a monetary union so that it can be the exporter it is." I agree that the Germany government is, in part, responsible for policies that make Germans poorer and Greeks richer. So what? It seems like you want to blame Germany since unfortunately the only solution for the Greeks is for the Germans to keep sending them even more stuff (even though the Germans didn't make the Greeks unproductive).