Greeks lining up at ATMs

[charlesbahn]

I hear shoes are a good investment...

[tabs]

Originally Posted by Porsche-O-Phile

This was sort of doomed from the start - Europe as a whole is far too fragmented. The citizens of each EU member nation are far too nationalistic and proud of their identity as "Spaniards", "Italians", "Englishmen", "Germans", "Greeks" or whatever rather than "Europeans". In order for this whole EU thing to work, it has to dissolve the "us versus them" mentality that is quite clearly alive and well. The Greeks see themselves as victims of the "oppressive" Germans. Most other EU member state citizens see the "Greeks" as irresponsible and reckless rather than seeing their own European brothers as facing great difficulty, which might endear them to the Greek cause a bit. The whole thing is a sham. I suspect the EU will eventually become like the UN - a "name only" sort of agreement between member nations that really don't / can't get along and will backstab each other the first chance they get.

I agree with Dennis however - I'm sick and tired of globalization and am not wholly disappointed to see this little bit of the "New World Order" fall on its face. A little competitiveness in the world isn't a bad thing.

Mein Gott im Himmel...is U taking Meth now...you are speed writing your ideas...

[tabs]

Originally Posted by charlesbahn

I hear shoes are a good investment...

Only if you can make money with them.

[Iciclehead]

Originally Posted by charlesbahn

I hear shoes are a good investment...

Certainly when liberally applied to the backsides of certain malingering bureaucrats....


Dennis

[tabs]

Originally Posted by Iciclehead

Certainly when liberally applied to the backsides of certain malingering bureaucrats....


Dennis

U missed the true sly meaning of his statement. U should have asked yourself, "what the fk is up wid that one, is there something I am missing here." As his statement was so non sequitur. As it stands you jumped without out understanding what you were jumping into.

In all probability it will all become apparent in further discussion with Charles...the ball has been bounced back into his court with my response.

[tabs]

I appreciate every bit of support that I get on this Board, as I figure it comes from the best and brightest. It makes my task so much easier if I do not have to fight every battle alone.

[dlockhart]

Originally Posted by tabs

For the most part you all are lost in the forest of a perceptional construct that no matter how hard you try does not match reality. Maynard Keynes talked about the "animal spirits" of emotion which we all know exists. Men more often than not are ruled by emotion rather than by rationality. So the question becomes how do you quantify an emotion? The answer is an unqualified you just can't do it.

Perhaps one should look beyond JMK.
Ole Ludwig had a interesting theory called Praxeology and a wonderfully loooooooong book in many volumes called "Human Action" that may be of interest to you.





Prax girl conveys a lot of info in a way that even I can grasp. ( "Human Action" is a bit heavy for summer reading)

[tabs]

JMK is just a point of reference for the Board.

Prax is like a bone with out meat on it, I prefer the meat on the bone as the flavors are so much more interestingly complex. In other words I like the motivations that leads to action. I want to know the reasons for anxiety, distress and unease. I like tinkering with them. Once you know the patterns, herd, flock or collective behavior does become predictable in that the extreme variations of individual behavior gets over ridden by the patterns of the larger group. Maybe if you will as a reversion to the mean of behavior. Even with individual behavior there is enough of competing behaviors that once you know the subject they become more or less predictable.

There is the individual, group and collective. "Animal Spirits" generally refers to the collective that pays attention or to the sub group that concerns it's self with the running of an economy.

[sc_rufctr]

"Varoufakis" just resigned...

Yanis Varoufakis Resigns as Greece

[tabs]

Originally Posted by sc_rufctr

"Varoufakis" just resigned...

Yanis Varoufakis Resigns as Greece

OMG...So much for the ability of the EU zone tolerance for truth...they sic the EU ministers will swallow the pill only if Varoufakis falls on his sword.

In the end these EU ministers are done for. Varoufakis gives you the truth which they can not handle instead choosing an Alice In Wonderland reality which in the end dooms them. They will choose policies based upon a concocted fantasy of the conventional wisdom. In the end you do know what happened to the French functionaries and Russian functionaries during the French and Russian revolutions?

U Boyz know all about the doom and gloom scenario that I have been painting well this revolting development is all going according to script. It is the playbook from he11 that is being played out right before your very eyes...

[reverie]

It's sobering to know that this could happen to the U.S. on a much larger scale.

I'm watching to see what happens to Greece.

_

[tabs]

TABS is nothing, he holds no power, he is an inconsequential nobody. A nothing, a zero, a loser. So what does his opinion matter?

[tabs]

Now I will tell you about Alexander. His father was Philip King of Macedonia (Northern Greece) his Tutor was Aristotle. So he learned about the levers of power up close and personal while being given the circumspect analytic ability bestowed upon him by none other than Aristotle.

But as a field commander of the Greek army. He would have his army divided into three sections. On the left would be cavalry with lite infantry. In the center he would have his heavy Greek Phalanx infantry and on the right more cavalry and lite infantry but here would be Alexander with his "companion" shock troop cavalry. His left would act as diversion while protecting his left flank, his heavy Greek infantry would engage and thus pin the enemy while on the right he would move farther to the right and as the enemy stretched out their left to counter his move Alexander would see the hole in the enemy line and point and say, "There it is" while turning to charge into the gap created...straight for Darius the Persian King who turned and fled for his life, thus losing the battle and in the end losing his life as he was assassinated

But this alone isn't genius, it was during his battle with the Indian elephants that Alexander used his cavalry on the right to engage the enemy elephants and thus commit and pin the enemy while his heavy Greek infantry moved to decimate them once they were engaged. So Alexander was not a one set of tactics battle commander but was able to change up his tactics in order to meet circumstance.

[tabs]

Originally Posted by reverie

It's sobering to know that this could happen to the U.S. on a much larger scale.

I'm watching to see what happens to Greece.

_

If this happens to the USA the whole world burns right along with the USA. The USD and US Military are the cornerstones of an intertwined Global economy. The Chinese and others clearly see it, and are moving to mitigate the damage. However they have as yet not been able to move far enough away from being crushed by a falling elephant in the room.

American leadership over the past 50 years deserves it's own ring in he11 as they have acted irresponsibly with the vast power that has been bestowed upon them. For 200 years the USD has been the rock of Gibraltar that the world could count on, but in the last 50 years that trust has been betrayed by an immature self indulgent leadership that has squandered their birthright.

[Porsche-O-Phile]

The lesson here is that "global" currencies and globalization in general are bad ideas, unsustainable and dangerous. I'd look for smarter, more well-led countries to shy away from "world reserve" currencies like the USD or Euro. Heck, several nations have already been doing it. The UK has played this pretty well also, retaining the pound, which is likely to enjoy a resurgence in popularity / everyday use.

I'd say the pound might start looking like the "safe harbor" a lot of people (Europeans in particular) seek these days.

[wayner]

If the discussion is turing towards the US situation, I wonder how the recent financial crisis (2008?) could have been possible in light of the lessons learned from the mid 80s saving and loan crisis?

..Perhaps I mis spoke. Potential lessons that went unlearned or were quickly forgotten?

[74-911]

Originally Posted by wayner

If the discussion is turing towards the US situation, I wonder how the recent financial crisis (2008?) could have been possible in light of the lessons learned from the mid 80s saving and loan crisis?

..Perhaps I mis spoke. Potential lessons that went unlearned or were quickly forgotten?

Great Post....The 80's S&L crisis mainly affected the Southwest as a rule so many lessons of that fiasco went unnoticed or were forgotten (if you questioned most Americans about it today, they would probably say "what S&L crisis ?). It was definitely a precursor to 2008 but nobody was paying attention as you point out. If you happened to live in the SW and TX in particular during that time you were definitely aware of it.

[wayner]

I live in Canada and at the time I as a young adult was even aware of it. It makes me wonder how the US policy makers could not be?

On another note, perhaps China looked to these lessons when they changed the rules regarding buying stock on margin recently.

[red-beard]

Originally Posted by wayner

I live in Canada and at the time I as a young adult was even aware of it. It makes me wonder how the US policy makers could not be?

On another note, perhaps China looked to these lessons when they changed the rules regarding buying stock on margin recently.

China changed their rules because they had a 25% sell off in the market!

[wayner]

Originally Posted by red-beard

China changed their rules because they had a 25% sell off in the market!

I thought it was the other way around, that the policy change caused the selloff.
I stand corrected.