Amadd wrote on Jun 19
th, 2012 at 8:20am:
Yes, some Asian countries have worked harder to catch up. And catch up they have.
It's a bogus piece of thinking to think that we are all relying on Germany to bail out the historically weak European economies. They have always been weak anyway.
Thanks to Keating, we are far more aligned to emerging economies in Asia.
We don't need to give a rat's rosy ringhole about what happens in Europe, 'cause they will be relying on us.
Well who's 'us' Amadd? If you look to Asia to provide the model 'us' is the RICH who get and maintain their wealth by exploiting.
Is working in sweat shops for bugger all, your recommendation to Greeks, Italians, Spanish and Irish workers or all workers everywhere?
The Greeks borrowed too much and must pay it back, we are told, by Germans. But Germans didn't like 'Austere' too much themselves when made to pay back the damage caused by rampaging in WW1. So they rampaged again in the forties and got more lenient conditions imposed on them, so in a sense they won WW2.
Germany says the Greeks borrowed too much... but they want to lend more. How does that work? Can you blame the Greeks? Australians are the most leveraged citizens on Earth, are things going to get 'austere' here? Apparently because wages and conditions are being erroded now and these are the 'good' times, when we have the best economy on the planet.
If the rich borrow too much they go bankrupt; but it never seems to effect their lifestyle. Or their business goes into liquidation, but they are not their business, that's a seperate entity. They start another one. Looks to be a good system. One the Greeks should try. Of course their German bankers want to control them and bleed them. Well silly investors have only themselves to blame.
F;ck 'growth' and all who sail on her. A game of MONOPOLYtm cannot last forever, even when the 'winners' refuse to accept they've won and keep the game going by 'letting off' and lending more. Sooner or later frustration builds and the board goes in the air. Capitalism is the concentration of money into bigger and bigger parcels, it's not an infinite process. Greeks are not to blame for the way the dice roll.
Edit: Hey Pansi, watched your video after posting, great minds think alike