Comments on: Silly Greeks http://sovereignspeculator.com/2010/05/05/silly-greeks/ Thoughts on the markets and the decline of the west Fri, 11 Nov 2011 19:37:05 +0000 http://wordpress.org/?v=2.6 By: Mike http://sovereignspeculator.com/2010/05/05/silly-greeks/#comment-9030 Mike Thu, 06 May 2010 09:18:18 +0000 http://sovereignspeculator.com/?p=4595#comment-9030 Noah, that's amazing about the union terms... I also read somewhere that hairdressers are entitled to an early retirement at 50 because their profession is one of over 500 designated as "hazardous." How could these people ever hope for better terms than this? What do they think the alternative is? It sounds like even with "austerity" the country will still go broke, since these are hardly sacrifices, plus higher taxes will stifle the economy (if they are even collected -- good luck with that). Noah, that’s amazing about the union terms… I also read somewhere that hairdressers are entitled to an early retirement at 50 because their profession is one of over 500 designated as “hazardous.”

How could these people ever hope for better terms than this? What do they think the alternative is? It sounds like even with “austerity” the country will still go broke, since these are hardly sacrifices, plus higher taxes will stifle the economy (if they are even collected — good luck with that).

]]> By: Mike http://sovereignspeculator.com/2010/05/05/silly-greeks/#comment-9029 Mike Thu, 06 May 2010 09:12:42 +0000 http://sovereignspeculator.com/?p=4595#comment-9029 Yeah, you're right. Military pay is totally out of whack with other government pay, especially considering the costs and risks involved. Exactly -- we don't even need a standing army. Who would ever invade the US? As the Japanese naval commander said, there would be a rifle behind every blade of grass. Yeah, you’re right. Military pay is totally out of whack with other government pay, especially considering the costs and risks involved.

Exactly — we don’t even need a standing army. Who would ever invade the US? As the Japanese naval commander said, there would be a rifle behind every blade of grass.

]]> By: Rob http://sovereignspeculator.com/2010/05/05/silly-greeks/#comment-9028 Rob Thu, 06 May 2010 09:02:43 +0000 http://sovereignspeculator.com/?p=4595#comment-9028 Hey Mike, my point wasn't that the troops are sacrificing for a worthy cause, but that they're out there making a big sacrifice -- and getting paid peanuts, in stark contrast to the other 90% of govt employees who are overpaid but don't have to put anything on the line. But I do agree that most wars are rackets. I don't think we should be in either Iraq or Afghanistan, and I generally favor fighting only to protect America against invasion. Hey Mike, my point wasn’t that the troops are sacrificing for a worthy cause, but that they’re out there making a big sacrifice — and getting paid peanuts, in stark contrast to the other 90% of govt employees who are overpaid but don’t have to put anything on the line.

But I do agree that most wars are rackets. I don’t think we should be in either Iraq or Afghanistan, and I generally favor fighting only to protect America against invasion.

]]> By: Noah http://sovereignspeculator.com/2010/05/05/silly-greeks/#comment-9027 Noah Thu, 06 May 2010 07:25:32 +0000 http://sovereignspeculator.com/?p=4595#comment-9027 Reading the specifics of the austerity measures made me blow diet coke out of my nose. Among other things, public sector workers pay will be frozen till 2014, they will not be paid 14 month salaries anymore, retirement age will be linked to life expectancy, and laws preventing private sector companies from firing more than 2% of their workforce in a month will be lifted. Wow, and this is causing riots? What's the difference between unions/government workers and leeches? Leeches instinctively move on to a new source once the old source is depleted. Unions and government workers bleed a society dry, then protest against the lack of blood. Reading the specifics of the austerity measures made me blow diet coke out of my nose. Among other things, public sector workers pay will be frozen till 2014, they will not be paid 14 month salaries anymore, retirement age will be linked to life expectancy, and laws preventing private sector companies from firing more than 2% of their workforce in a month will be lifted.

Wow, and this is causing riots? What’s the difference between unions/government workers and leeches? Leeches instinctively move on to a new source once the old source is depleted. Unions and government workers bleed a society dry, then protest against the lack of blood.

]]> By: Mike http://sovereignspeculator.com/2010/05/05/silly-greeks/#comment-9026 Mike Wed, 05 May 2010 20:37:08 +0000 http://sovereignspeculator.com/?p=4595#comment-9026 Rob, those Army privates are not defending their country. Sadly, they are dying and being maimed by the thousands to support a racket and the interests of a few powerful parties. The vast majority of citizens would be better off with no GWOT, no invasions, and no foreign bases. Even the intelligence agencies and homeland security are a rip-off and do vastly more harm than good. It's all a racket. Rob, those Army privates are not defending their country. Sadly, they are dying and being maimed by the thousands to support a racket and the interests of a few powerful parties.

The vast majority of citizens would be better off with no GWOT, no invasions, and no foreign bases. Even the intelligence agencies and homeland security are a rip-off and do vastly more harm than good. It’s all a racket.

]]> By: Mike http://sovereignspeculator.com/2010/05/05/silly-greeks/#comment-9025 Mike Wed, 05 May 2010 20:31:31 +0000 http://sovereignspeculator.com/?p=4595#comment-9025 "Obviously expecting governments to be responsible (run surpluses during good times) is highly unrealistic." And then there are the Swiss, who in the '90s passed a national referendum mandating that their government do just that... they even ran a surplus in 2009. http://www.businessweek.com/news/2010-04-29/swiss-debt-brake-generates-surplus-as-greece-battles-deficit.html “Obviously expecting governments to be responsible (run surpluses during good times) is highly unrealistic.”

And then there are the Swiss, who in the ’90s passed a national referendum mandating that their government do just that… they even ran a surplus in 2009.

http://www.businessweek.com/news/2010-04-29/swiss-debt-brake-generates-surplus-as-greece-battles-deficit.html

]]> By: Max http://sovereignspeculator.com/2010/05/05/silly-greeks/#comment-9024 Max Wed, 05 May 2010 20:26:31 +0000 http://sovereignspeculator.com/?p=4595#comment-9024 Quite true. If Greece defaulted, they would (temporarily) lose access to credit and have to make larger budget cuts than the "austerity" of the EU/IMF. The premise of the Euro system is that the members would abide by strict fiscal discipline, so this scenario would never happen. Ha. Obviously expecting governments to be responsible (run surpluses during good times) is highly unrealistic. Quite true. If Greece defaulted, they would (temporarily) lose access to credit and have to make larger budget cuts than the “austerity” of the EU/IMF.

The premise of the Euro system is that the members would abide by strict fiscal discipline, so this scenario would never happen. Ha. Obviously expecting governments to be responsible (run surpluses during good times) is highly unrealistic.

]]> By: Rob http://sovereignspeculator.com/2010/05/05/silly-greeks/#comment-9023 Rob Wed, 05 May 2010 16:13:58 +0000 http://sovereignspeculator.com/?p=4595#comment-9023 Nice job pointing out in your posts how our millions of government workers, collectively, can be almost as much of a drain on the country as Wall Street. They don't make the obscene money that bankers and traders do. But many govt workers' pay, benefits, pension and job security are all *much* higher than what people in the private sector get for doing nearly identical jobs. The sad irony is that while many, if not most, public sector workers are overpaid desk jockeys, the minority of government employees who really do sacrifice for the country are the only ones who are vastly *under*paid. What is an Army private patrolling the streets of Baghdad make, $20k per year? Nice job pointing out in your posts how our millions of government workers, collectively, can be almost as much of a drain on the country as Wall Street.

They don’t make the obscene money that bankers and traders do. But many govt workers’ pay, benefits, pension and job security are all *much* higher than what people in the private sector get for doing nearly identical jobs.

The sad irony is that while many, if not most, public sector workers are overpaid desk jockeys, the minority of government employees who really do sacrifice for the country are the only ones who are vastly *under*paid. What is an Army private patrolling the streets of Baghdad make, $20k per year?

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