"Arch Duke Maxyenko, Shit Talk Extraordinaire" (arch-duke-maxyenko) 07/31/2015 at 08:00 • Filed to: None

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SidewaysOnDirt still misses Bowie > Arch Duke Maxyenko, Shit Talk Extraordinaire 07/31/2015 at 08:03

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One of the best things about being an American is being able to laugh at silly European squabbles.

toadterror > SidewaysOnDirt still misses Bowie 07/31/2015 at 09:54

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Lol Trump 2016

wiffleballtony > SidewaysOnDirt still misses Bowie 07/31/2015 at 10:13

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Except we gave Greece more money than the UK.

SidewaysOnDirt still misses Bowie > wiffleballtony 07/31/2015 at 10:30

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Only because of our IMF involvement. The $8bil we gave is nothing to our economy. The UK’s much smaller with about 1/6th of the population, so it would be like giving $42bil for them, which is a much bigger chunk of change. Even then though, it’s in our best interest to keep the Euro afloat at the moment. If the Euro collapses, the dollar becomes way more valuable which will impact our exports.

wiffleballtony > SidewaysOnDirt still misses Bowie 07/31/2015 at 11:31

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Yes, but it’s still taxpayer money. While the UK is smaller, they are still a part of Europe, while the US is not. Which goes to show how much we care. I know where have a vested interest in keeping Europe afloat which is why I responded to your comment about the problem being silly.

kanadanmajava1 > SidewaysOnDirt still misses Bowie 07/31/2015 at 12:38

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US has some debt too. But I guess the problem isn’t having debt but asking someone to pay their debt.

I’m not very good with financial sector or economics (in fact I mostly hate them) but it’s a mystery to me why a government of a well established country have debt. It just doesn’t make any sense. Shouldn’t the government try to handle the country so that the debt should be paid off quickly by reducing unnecessary running costs? A debt problem usually cant just be solved by taking more and more debt.

If people are expected to pay off their loans during their lifetime shouldn’t the same approach also apply to governments?

Big nations that have their own currency could of course just “print” the money and pay off the debt. This would probably throw the financial world into a chaos for a decade or so but that would be one easy way.

SidewaysOnDirt still misses Bowie > wiffleballtony 07/31/2015 at 13:10

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But it doesn’t really cost us anything directly because it’s through the IMF. Think of the IMF as like international insurance for countries. That $8bil that we paid was a smaller chunk of other money that goes into the pot with or without the world finding out that Greece was cooking the books. Yes, the money came from us, but it it’s money that we put into the IMF regardless for exactly this kind of situation. It’s already accounted for. It’s not like the ECB, which is new and being financed from the ground up largely by Germany. This is new money coming directly from their budgets.

wiffleballtony > SidewaysOnDirt still misses Bowie 07/31/2015 at 14:57

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I know this and agree with you.

gmporschenut also a fan of hondas > kanadanmajava1 08/01/2015 at 03:18

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“shouldn’t the government try to handle the country so that the debt should be paid off quickly by reducing unnecessary running costs?

Because that would require politicians of both sides to sit down and discuss long term goals, and temporary compromises, instead wasting time.