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Sat May 26, 2012, 09:46 PM

Economic Buffs Needed Here: Would A GLOBAL Flash/Cash/Mob Help The Situation In Greece ???

I'm watching Wall Street Journal Report, with Maria Bartaromo (not a big fan), but as they are discussing Greece... one of the guests says that the Greek economy is the size of Boston or Philidelphia...

So... since we may be about to get screwed once again by the Euro-Zone conniption fits...

Would it make ANY sense to use social networking to buy Greek, or Spanish, or Irish, or Portuguese, and put the fate of the global economy in OUR hands... at least to SOME degree ???


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Reply Economic Buffs Needed Here: Would A GLOBAL Flash/Cash/Mob Help The Situation In Greece ??? (Original post)
WillyT May 2012 OP
Phlem May 2012 #1
WillyT May 2012 #3
Phlem May 2012 #7
xchrom May 2012 #2
WillyT May 2012 #6
madrchsod May 2012 #4
TheWraith May 2012 #5
WillyT May 2012 #8
TheWraith May 2012 #9
WillyT May 2012 #10
TheWraith May 2012 #11

Response to WillyT (Original post)

Sat May 26, 2012, 09:53 PM

1. Not an economics buff as much as

based on observation. I've seen a lot of money thrown at a problem by the government with the hopes of correcting the issue. I've also seen a lot of money disappear into thin air.

"move your piece back to start"

rinse and repeat with no known observable change.

Based off of that, I would shy from throwing any more money at a problem till the basic issue is addressed, unless you like taxes.

Promise I am not a republican.

-p

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Response to Phlem (Reply #1)

Sat May 26, 2012, 10:00 PM

3. Maybe... But Apparently... If Greece Fails... Our "Taxes" May Go Up Anyway...

And our pensions may get screwed again...

Just trying to figure a way to be pro-active here.




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Response to WillyT (Reply #3)

Sat May 26, 2012, 10:25 PM

7. No doubt,

I hear ya. I don't think I'll ever have a pension, but I do know things can get a lot worse. Good luck to ya Willy.

-p

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Response to WillyT (Original post)

Sat May 26, 2012, 09:58 PM

2. It's not a loan - so it couldn't hurt. Nt

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Response to xchrom (Reply #2)

Sat May 26, 2012, 10:08 PM

6. I Thought About This Last Week... Was About To Post... And Thought, "Nah That's Just Silly"...

But when given the "size" of Greece's economy... versus the out-sized influence it might have on the rest of us...

I thought I should at least ask the question.




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Response to WillyT (Original post)

Sat May 26, 2012, 10:04 PM

4. nope..the 1% would steal that too

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Response to WillyT (Original post)

Sat May 26, 2012, 10:08 PM

5. Unfortunately, raw math would seem to suggest not.

Disclaimer: economics was never my strongest subject. However... Greece has a GDP of around $308 billion dollars according to the latest figures, which makes them comparable to, say, Maryland. Even if you organized 100,000 people to each spend $500 on Greek goods, that would still only represent a $50 million dollar infusion into the Greek economy. If you organized one million people to spend $500 each--and good luck finding 1 million people with $500 to burn--that would still be about 0.15% growth in their GDP.

Now, that would still be a nice infusion, but whether it would make even more than a short-term difference depends on what happens to that cash. If it's spent on small-business produced goods, that's good for the small businesses, but it might result in that cash being socked away either by them or their employees, instead of being re-spent which is what needs to happen for economic stimulus to work. That's why cash awards typically suck as stimulus.

It's a good thought, but economies, particularly the economies of even relatively small countries, are staggeringly large things. It would take a lot of money at a highly sustained level to seriously infuse their economy.

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Response to TheWraith (Reply #5)

Sat May 26, 2012, 10:31 PM

8. Thank You !!! - I Just Tend To Remember When Colleges/Universities Et. Al. Started Divesting From

South Africa because of Apartheid.

Seemed to work then, and at the time, was a novel approach.

CalPers has come under derision for similar forward thinking investments.

Just wondering how it might work if the rest of us were involved.






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Response to WillyT (Reply #8)

Sat May 26, 2012, 11:27 PM

9. In those cases, one has to also account for the PR value.

Or rather, negative PR value. I suspect that you could line up dozens, maybe hundreds of 1980s universities, and the real monetary value of their investments in Apartheid-era South Africa would be practically an asterisk on the SA GDP. But the value of the exposure and attention from those organizations divesting themselves would be many, many, many times the value of the actual investments.

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Response to TheWraith (Reply #9)

Sat May 26, 2012, 11:44 PM

10. Great Point, Good Info, Thanks...

PR is can be worth a whole lot, no ???


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Response to WillyT (Reply #10)

Sun May 27, 2012, 04:32 PM

11. Definitely. And negative PR can be priceless. nt

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