Search found 253 matches

by johnhemming
Tue Jun 30, 2015 7:39 pm
Forum: News
Topic: Greece Watch...
Replies: 1588
Views: 188431

I think resource depletion will cause stress in societies across the world. However,that is not because private property rights are inherently the wrong basis upon which to organise society.
by johnhemming
Tue Jun 30, 2015 5:50 pm
Forum: News
Topic: Greece Watch...
Replies: 1588
Views: 188431

Capital Control Means Greeks Can Click, Not Buy http://www.voanews.com/content/capital-control-means-greeks-can-click-not-buy/2843061.html Unsurprising. Greeks can pay each other with credit cards I assume, but not anyone outside the country. (or more precisely through a bank based outside the count...
by johnhemming
Tue Jun 30, 2015 7:30 am
Forum: News
Topic: Greece Watch...
Replies: 1588
Views: 188431

Undercover Elephant>You can't see that this whole "austerity" bullshit is about increasing inequality, whether it is within the eurozone or within the UK. It's about corporatism and kleptocracy displacing democracy. It's about the banks and their political cronies imposing an ever more unf...
by johnhemming
Tue Jun 30, 2015 6:52 am
Forum: News
Topic: Greece Watch...
Replies: 1588
Views: 188431

One valid point. However, there is a production of usable energy.

The validity of the contract is a legal construct. Your view is not accepted in general. In general financial contracts are valid. If Greece tries to repudiate them on a unilateral basis it will not be accepted.
by johnhemming
Mon Jun 29, 2015 10:39 pm
Forum: News
Topic: Greece Watch...
Replies: 1588
Views: 188431

Whereas I accept the arguments that material consumption cannot continue growing (for ever/on an exponential basis) I do not accept that the models of contracts have no validity even if they do not exist in a physical sense beyond records on paper. Whereas it is valid to accept that limits on the pr...
by johnhemming
Mon Jun 29, 2015 9:58 pm
Forum: News
Topic: Greece Watch...
Replies: 1588
Views: 188431

True, but that is not a good way of financing the deficit.
by johnhemming
Mon Jun 29, 2015 9:23 pm
Forum: News
Topic: Greece Watch...
Replies: 1588
Views: 188431

The problem is that the question as to the impact as to additional spending is complex. It is arguable that all government spending increases economic activity directly. The first question, however, is what the additional tax take (or reduction of other spending) is as a result of the additional spe...
by johnhemming
Mon Jun 29, 2015 5:51 pm
Forum: News
Topic: Greece Watch...
Replies: 1588
Views: 188431

I don't think the EZ are proposing to speed up payments of debt. If anything they are slowing it down. The idea is to get the government itself to spend less than it earns.
by johnhemming
Mon Jun 29, 2015 4:22 pm
Forum: News
Topic: Greece Watch...
Replies: 1588
Views: 188431

The initial problem for the Greek Government is that it needs more money than its taxation revenue to fund its costs (if it pays everything it is supposed to pay including suppliers).
by johnhemming
Mon Jun 29, 2015 10:22 am
Forum: News
Topic: Greece Watch...
Replies: 1588
Views: 188431

You may have noted that the banks have closed.
by johnhemming
Mon Jun 29, 2015 9:52 am
Forum: News
Topic: Greece Watch...
Replies: 1588
Views: 188431

What I said previously is that it is not unreasonable to have some form of means tested support scheme and I would support humanitatrian aid I do not think having blanket payments is a good mechanism. As it stands is the probability is that the Greeks will vote for austerity, the banks will re-open ...
by johnhemming
Sun Jun 28, 2015 11:18 pm
Forum: News
Topic: Greece Watch...
Replies: 1588
Views: 188431

What would be interesting is any limit on payment cards. Probably covered by the international limit.
by johnhemming
Sun Jun 28, 2015 8:49 pm
Forum: News
Topic: Greece Watch...
Replies: 1588
Views: 188431

>financial speculators who were the real beneficiaries of bailouts
Shows a failure to understand how the bailouts worked.

If someone wants to help Greece with the debt they can send them some of their cash.

Greece is not Burkina Faso.
by johnhemming
Sun Jun 28, 2015 7:28 pm
Forum: News
Topic: Greece Watch...
Replies: 1588
Views: 188431

>They stated that "deposits are safe"
That's a laugh.
by johnhemming
Sun Jun 28, 2015 6:46 pm
Forum: News
Topic: Greece Watch...
Replies: 1588
Views: 188431

On balance I would think the banks won't open without capital controls unless Greece passes into law the changes required by the Troika. Although ELA strictly terminates on Wednesday which makes the banks insolvent (because of the haircut on a defaulting sovereign debt) I really don't think they wil...