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It's Happening Again

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From: Rambo

To: Yuck
This Post:
00
193711.19 in reply to 193711.18
Date: 8/9/2011 7:53:54 AM
New York Jests
IV.30
Overall Posts Rated:
219219
Is the unicorn the one that can't be caught or is that the pegasus? Which one do you think is more jealous of the other? Do you think the male unicorns brag about how big their horns are? Do unicorns have a sex?

This Post:
00
193711.20 in reply to 193711.12
Date: 8/9/2011 9:11:11 AM
Overall Posts Rated:
5656
Thanks for coming in 2nd to Team Ojeda.

This Post:
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193711.21 in reply to 193711.20
Date: 8/9/2011 9:25:22 AM
Overall Posts Rated:
32293229
If the Toccoa Panthers are America's team, should we blame GM-Jason for their losses at the hands (or fists) of AngryFists?

From: cws33

This Post:
00
193711.22 in reply to 193711.6
Date: 8/9/2011 9:46:56 AM
EDH Wolves
II.2
Overall Posts Rated:
239239
Second Team:
EDH Wolves II
Their currency is more colorful

Cws
From: Rambo

This Post:
00
193711.23 in reply to 193711.22
Date: 8/9/2011 10:03:08 AM
New York Jests
IV.30
Overall Posts Rated:
219219
Do you think we will see the collapse of the European Union by 2020?

What are your feelings on social welfare and entitlements? Do you think it rises the level for everyone or puts you on an unsustainable trajectory for global economic competitiveness? Do you contribute that as the main driver, along with corruption, for the collapse of the European periphery states? Or is their more? What exactly is it about Germany that makes them so dominant? Is it more psychology or economics?

From: Tangosz

This Post:
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193711.24 in reply to 193711.23
Date: 8/9/2011 10:21:15 AM
Overall Posts Rated:
573573
I don't know that we'll see the collapse of the Union, but I can certainly imagine a break up of the euro, with coutries reverting to national currencies. Of course, this would prevent further unification, but I don't see the current political institutions really disintegrating. More just that they remain fairly static.

As far as social welfare and entitlements, I don't think the issues with the peripheral euro states are a result of them per se. Instead, the budgetary situation in these countries is dire because they have bloated government workers, their underlying economies are weak, and yet they want to maintain a generous level of social welfare. Something like 25% of all greek workers work for the government. That's just not sustainable. Contrast that with say Germany. They have a much stronger underlying economy, driven by a productive export sector. They can better afford the social spending they are doing. Now, why exactly it is that Germany is in one position and the PIGS (Portugal, Ireland, Greece, Spain) is a question that has no satisfactory answer. I'd guess because it has no single answer.






This Post:
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193711.25 in reply to 193711.15
Date: 8/9/2011 10:24:03 AM
Overall Posts Rated:
5151
Why do tubes keep breaking in my centrifuge?

From: Tangosz

This Post:
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193711.26 in reply to 193711.25
Date: 8/9/2011 10:26:23 AM
Overall Posts Rated:
573573
Because rcf != rpm

From: brian

This Post:
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193711.27 in reply to 193711.24
Date: 8/9/2011 10:38:49 AM
Overall Posts Rated:
576576
Instead, the budgetary situation in these countries is dire because they have bloated government workers


What about the nordic countries, which have similar size government expenditures as a percentage of GDP to the PIGS countries? Is it simply better economies and/or fiscal discipline and less debt?

"Well, no ones gonna top that." - http://tinyurl.com/noigttt
From: Tangosz

This Post:
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193711.28 in reply to 193711.27
Date: 8/9/2011 10:46:22 AM
Overall Posts Rated:
573573
All of the above. Especially their underlying economies. But I also don't think that they have nearly as many government workers. Generous social spending yes. But not as many people on the g-ment payroll

From: Rambo

This Post:
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193711.29 in reply to 193711.24
Date: 8/9/2011 11:21:25 AM
New York Jests
IV.30
Overall Posts Rated:
219219
Do you think it is fair that government workers make far more than the private sector in general when you consider benefits? I'd say the level of social welfare and government workers is the reason their economy is weak. Public spending chokes out the far more efficient private investment.

In retrospect I think we may be more likely to see a unified fiscal union dominated by Germany than a disintegrated monetary union.

I would compare these situations to the failure of the American Auto Industry where General Motors did not lose to Toyota because they were less innovative or more poorly run but because payroll and benefits choked out any hope of being competitive on a cost basis. Simultaneously humans, particularly Americans, continued to be driven by the low cost provider rather than the highest quality product.

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