12-year old Victoria Grant explains why her homeland, Canada, and most of the world, is in debt. April 27, 2012 at the Public Banking in America Conference, Philadelphia, PA. Support a public bank for YOUR state. Donate and make it happen!
yialousa1971 wrote:12-year old Victoria Grant explains why her homeland, Canada, and most of the world, is in debt. April 27, 2012 at the Public Banking in America Conference, Philadelphia, PA. Support a public bank for YOUR state. Donate and make it happen!
Mapko wrote:Boomerang...Here we go again with your boring, tunnel-visioned, anti-Greek rhetoric - or am I mistaken and you're just trolling?
The Greek economy was in a mess and the only way they could get more money for less onterest was to try and join the Euro. So, with a bit of book manipulation, they were accepted into the Euro and got masses of money for next-to-nothing interest rates. What they did with that money is indefensible, but there are two points to what happened in Greece:
1. The EU should take the blame for lending Greece the money. If they were dilligent enough, they would have gone through any potential member states'/loanees' books thoroughly and that can't have happened. If I want a loan, I have to prove my finances for a period of time and show I have good credit - if some muppet in a bank in England can do that, why can't the finest business brains in the EU that? Someone is at fault here, it's being covered up and the whole blame is being laid to rest at Greece's doorstep.
2. It highlights the genius mind of the Greek. Everyone thinks they are peasants with a peasant mentality, but to out-wit the sp-called 'finest business brains' in Europe is another level. If I want someone to invest my money to earn me more - give me a Greek any day.
You - and many others - lambast the Greeks, but isn't society at fault here? Western society and capitalism will bring the downfall of the world. My dad always did business in money - you spent what you had and couldn't spend what you did not. Now, it's all plastic and cyber money. You don't have money, it doesn't matter - put it on a card and pay when you have the money (but we'll charge you for it). Last year, the UK finally finished paying its debt to Canada for money loaned to it during WWII! Are you joking? We're still paying a debt from 1945? Why not just cancel all world debt? It's a circle of debt and let me give an example - the UK owes Canada, Canada owes France and France owes the UK. The money in this scenario is all the UK's as it pays Canada, the money Canada receives is given to France and France pays the UK with the initial payment the UK gave Canada. If the world can cancel all debts owed to it by Haiti, then I'm sure all debts can be cancelled outright. The western world seems to be on a hiding to nothing trying to fall over itself giving money to Africa - which is just throwing good money after bad - so why can't it help the progressed countries that have actually done something?
In conclusion - STOP WITH YOUR ANTI-GREEK, OH-SO BORING, DIATRIBE, YOU BORING MAN.
The EU should take the blame for lending Greece the money.
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