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It's Happening Again

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From: cws33

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

Cws
From: Rambo

This Post:
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193711.23 in reply to 193711.22
Date: 8/9/2011 10:03:08 AM
New York Jests
IV.30
Overall Posts Rated:
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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:
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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
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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.

From: Tangosz

This Post:
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193711.30 in reply to 193711.29
Date: 8/9/2011 11:40:33 AM
Overall Posts Rated:
573573
Possible, but then you have to explain why countries who spend more per capita on social spending haven't done as poorly as Greece. Countries like Germany, Denmark, Sweden, and France (from OECD 2007 http://www.businessinsider.com/countries-most-entitlement-spending-2011-4#14-luxembourg-1).

As for the monetary union, the eurozone already is dominated by Germany. That's the problem really though. Individual country governments have the power to set government fiscal policy, but don't have the power to control monetary policy. If they did, Greece would long ago have devalued, to raise its exports and reduce its real borrowing costs.

And concerning government workers, I do believe their benefits are too generous. But that day of reckoning is already coming.

This Post:
33
193711.31 in reply to 193711.17
Date: 8/9/2011 12:43:53 PM
Overall Posts Rated:
744744
when will melo win an MVP

Shortly after you figure out where the [SHIFT] button is. ;)

He should stay off the weed and practice a lot. Helping his team to a #1 seed in the playoffs will elp, too.


why do u care so much 'bout a 13 yo's typing skills

The question is not why I care so much, the question is why you care so little.

(http://www.buzzerbeater.com/community/fedoverview.aspx?fe...)
Keep your friend`s toast, and your enemy`s toaster.
This Post:
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193711.32 in reply to 193711.31
Date: 8/9/2011 1:07:50 PM
New York Jests
IV.30
Overall Posts Rated:
219219
Social commentary! Are you suggesting this is why America is falling behind educationally?

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