h a l f b a k e r yOK, we're here. Now what?
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So four or five States are a bit in trouble on
borrowing habits and GDP ratios.
I have an idea.
Economists estimate the cash flow required, export
effects, and various other consequenses.
A mathematical solution is derived as to Euro
supply increase. The increase in supply is
distributed
to the Eurozone States based upon
debt to GDP factors.
I.E. Germany would get a significant part of the
revaluation cashflow.
Greeks, Italianns, Irishmen, Portuguese, Icelanders
could all travel to gain employment in Germany's
new public works projects.
If Ireland ends up in years to come with a surplus,
all mobile workers shift there.
A Euro devaluation makes Europe's exports
cheaper for the rest of the world, at European's
expense in the short term.
Look up graphs of M2, M3, or M4 if you think I'm
joking.
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This idea is contrary to the charter of the EU, from what I
understand. If not the Eu, then the ECB. |
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I must point out, the opposite strategy seems to be failing in awe
inspiring fashion. |
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It's what's in store for us here in the US, as we elect people who
are incompetent, yet able to utter slogans. |
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I know I'm just a dumb hick, but I don't get it; if it's
possible to create enough jobs in one country, e.g.
Germany, for all those people from other countries, why
not just create those jobs in all the countries so everyone
can stay home? |
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Oh, and my English isn't very good, so please post your
reply in American. Northern Appalachian Redneck dialect,
if you can. |
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Sorry, that last bit is a carry-over from something else... |
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So you're suggesting we devalue the Euro by adopting a massive quantitive easing (money-printing) policy, thus relieving pressure on those economies that have tricky debt ratios, at the expense of raising inflation in the more secure areas of the Eurozone, thus eroding the buying power of Euro savings? |
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I think it's all fine, until you start talking about population movements - which is more tricky. |
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And that's at the root of the whole Euro argument - are the populace able/willing to move around the Eurozone in order to keep up with the fluctuating local peaks and troughs in the Eurozone economy? Because there's never going to be a single fiscal policy that applies across the board. |
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My reply in American, Northern Appalachian dialect? |
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I am going to get banned for this, I'm certain. My test scores as
a HILLBILLY got me into the college of MY choice. Tulane
University. See if your Creds get YOU in.
I was ONE class short of getting a minor in economics with
professors who were economic advisors to Nicaragua and South
Korea. |
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I grew up just a bit north of your insult, I think. 7 Presidents
came from there. |
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My idea was entirely serious as the only way to avoid a Greek
default REQUIRES worker movement across the EU. |
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Perhaps you would like to school poor ol' hillbilly me as to
another viable solution? |
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What I call for is just. The common man will
understand. |
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Dunno how it translates into hillbilly, but into plain English, correct me if I'm wrong, it reads like... |
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A bunch of countries borrowed too much money, so let's print more, screwing over the ones who aren't in debt as much, and give most of it to the country (Germany?) that's in the hole the most, and people from other countries can temporarily move there to participate in makework projects to get some of the money back. |
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Yes. What else will work? ( Germany is not in the hole by a long
shot, unless I am misinformed)
The ratio I propose is based upon how the nations managed their
finances. |
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What have the Icelanders got to do with the Euro? |
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//What else will work?// The people who spent too much money they didn't have and are therefore now massively in debt, suddenly get much poorer and have to work very hard to pay off what they owe? |
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From what I've heard, those Greeks most willing and able to work harder are already looking for ways to do this in other countries. The ones left in Greece might end up living on remittances - a bit like the Somalis, but with a stronger tradition of self-righteous sophistry. |
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The "people" didn't technically spend the money! Their lying
corrupt politicians did it for them. |
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I know they say you get the government you deserve, but I
disagree. |
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My thought was to lessen the pain for those who had no control
in the decision making process. |
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Deflating THEIR currency actually helps them by making their
exports cheaper. |
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For those who need an example: |
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Fiat, no euro devaluation - $29,000 USD. |
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Fiat, significant euro devaluation -- $16,000 USD. |
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I'm talking about the Italian car when I use the word Fiat. |
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Porshe, $80,000 USD, now $65,000 USD.
Hmm Lincoln/Porshe. |
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[Zim], I meant no insult, truly. I was referring only to
myself as dumb hick, not anybody else, and certainly not
you. Sorry for the misundersanding. |
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Sorry I took it the wrong way. I hope you understand why it
made me mad, though it was entirely my fault for misconstruing
the meaning of the words. |
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No, I totally understand; I could have been more self-
referential. I tease and needle other Halfbakers (some
more than others), but I _always_ mean it in fun. If I
accidentally cross a line, I want people to call me on it--
just like you did. |
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PS: your explanation clears up my confusion nicely. I sort
of get this idea now. |
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The Euro needs not to exist and the EU needs not to exist. |
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I'll leave that for actual Europeans to debate. As much as I
am tuned in to international news (because it's more
interesting than anything that happens in the US), having
no first-hand experience with the situation leaves me
feeling quite unqualified to form, much less defend, a
definite opinion. |
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I am, however, still free to mock. |
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I am of course an actual European. I think the
government tends to capitalise on xenophobia by
blaming the EU for things which they want to bring in
but don't want to take responsibility for. |
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If you mean the US government, I think you're right, not
that it makes a damn difference to me what my
government wants me to think. Then again, I live in a
place so remote that it's hard to imagine the EU having any
significant impact on my life unless it goes completely tits-
up. I don't say this out of ignorance, but of experience;
where I live, the state of the US economy has very little
impact on the local economy. |
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