tag:blogger.com,1999:blog-6616959642391988608.post5900692495882709922..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: Eurozone default losses are water under the bridgeScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-6616959642391988608.post-91666176602066096722012-06-03T08:01:09.831-07:002012-06-03T08:01:09.831-07:00Point well taken, Egghead.
I vigorously oppose th...Point well taken, Egghead.<br /><br />I vigorously oppose the view points of, Mr Grannis...I believe his opinions about the EU crisis are much too sanguine, particularly when it comes to debt default..<br /><br />Yes, EuroLand will not disappear, but the Black Plague has been replaced by the Red Plague...Oh, there will be a lot of pain and not only in Spain.<br /><br />Despite a 70% debt Hanshttps://www.blogger.com/profile/05183141792723754273noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-30250492318237352342012-06-01T12:10:09.679-07:002012-06-01T12:10:09.679-07:00This is so key:
"Raising taxes only serves t...This is so key:<br /><br />"Raising taxes only serves to validate the size of government; instead, government must be shrunk to fit the ability of the private sector to afford."sturdeebeggarhttps://www.blogger.com/profile/12157432070215514347noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-43321250510883619592012-06-01T07:46:02.631-07:002012-06-01T07:46:02.631-07:00The more I think about what is happening in Eurola...The more I think about what is happening in Euroland - the distrust of the southern tier of nations who were able to borrow vast amounts at significantly lower interest rates than they could have with their own currencies - I realize the fundamental problem is the adoption of the Euro. For Greece, Portugal, Ireland, etc. the natural market feedback mechanisms of the bond markets which would have Williamhttps://www.blogger.com/profile/04418491109912775561noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-42518490968816146062012-06-01T06:48:07.161-07:002012-06-01T06:48:07.161-07:00As Gloeschi said, you are indeed funny. If debt is...As Gloeschi said, you are indeed funny. If debt is a zero sum game, why do we ever have financial crisis? The US can just default and let its creditors lose. Isn't that beautiful?Eggheadhttps://www.blogger.com/profile/12598021955813734527noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-5830412776004753022012-06-01T06:23:58.290-07:002012-06-01T06:23:58.290-07:00Our beautiful Naples provided apartments and homes...Our beautiful Naples provided apartments and homes are among the top joint lodging in the Napoli region. With our fond and broody staff, you testament be provided relocation options to fit your requirements and be competent to select your perfect short-term or long-term accommodations.<br /><a href="//naplescorporatehousing.net/" rel="nofollow"> naples corporate housing</a>jimihttps://www.blogger.com/profile/04502959747701682479noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-9580152784780460122012-06-01T06:07:24.135-07:002012-06-01T06:07:24.135-07:00Scott is right. Like Romney. ("It's a zer...Scott is right. Like Romney. ("It's a zero-sum game. JPM's losses are somebody else's gain. This is how capitalism works, folks"). <br />I come to this blog merely for comic relief. Thanks for the entertainment.Gloeschihttps://www.blogger.com/profile/10705125909506053628noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-48100847662414869792012-06-01T03:04:36.051-07:002012-06-01T03:04:36.051-07:00I tend to agree with Scott that Greece is not goin...I tend to agree with Scott that Greece is not going to topple the global economy -- likewise, neither will Spain, Portugal, and Califonria -- however, I would also argue that the source of pessimism in the markets is not solely the Eurozone, but rather the Eurozone combined with California combined with the totality of America's declining real wages, home values, and employment to population McKibbinUSAhttps://www.blogger.com/profile/10545798495680527622noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-74390372581122049742012-05-31T23:11:04.345-07:002012-05-31T23:11:04.345-07:00Bill: markets react negatively to each bit of bad ...Bill: markets react negatively to each bit of bad news out of the eurozone, but on balance our equity market has been moving higher. I do think it's likely that markets don't really understand how debt and debt defaults work. A default doesn't destroy wealth; wealth destruction occurs when borrowed money is wasted on unproductive activities. Banks can be recapitalized easily. These Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-38334328479644900012012-05-31T19:31:51.554-07:002012-05-31T19:31:51.554-07:00If "markets" are going to enforce supply...If "markets" are going to enforce supply side economic theory where does this enforcement end? <br /><br />Why not attack Japanese bonds and drive their value down - their government has engaged in wasteful public spending to provide employment for decades. <br /><br />Then why not knock down the value of US bonds and many others. The US is the largest debtor nations and our deficit as Williamhttps://www.blogger.com/profile/04418491109912775561noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-37935501058053750162012-05-31T15:47:41.024-07:002012-05-31T15:47:41.024-07:00In a fiat world, debt never really decreases nor i...In a fiat world, debt never really decreases nor is a zero sum game. It keeps getting shuffled around until it ends up in the attic of sovereigns. Eventually the houses come crumbling down.<br /><br />The only thing available to extinguish debt is gold...Public Libraryhttps://www.blogger.com/profile/00017383928897945054noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-34551895987859600892012-05-31T14:21:53.049-07:002012-05-31T14:21:53.049-07:00If this were true then why would markets tank ever...If this were true then why would markets tank every time it looks like Greece might exit the Euro or Spanish banks might fail? Are you saying the markets are irrational? Isn't the problem credit default swap exposure and the potential for systemic failure similar to the concerns the world had with AIG?Billhttps://www.blogger.com/profile/06910619601367464068noreply@blogger.com