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Reply #42


Response to coalition_unwilling (Reply #39)

Sun May 20, 2012, 11:31 PM

42. I understamd the concept of selling to other markets

 

But I do not see the benefit in taxing ones own citizens more heavily in order to send their money to another market so that market can simply turn around and buy goods from their benefactor. Instead of continuing to sell goods to Greece and being paid back with money Germany gave them in the first place (or any other country that would require German largesse to be able to afford to buy German products), why shouldn't Germany sell their products to nations who don't require German citizens to send them money in order for them to be able to afford German goods. Shift the slack export inventory from Greece to Canada, China, Hong Kong, Iceland, the US, France, Japan, Finland...there are dozens and dozens of countries that can afford to buy German goods with their own money.

It's time to let Greece go the way of Iceland. And maybe Spain, Italy, Portugal, and Ireland as well. Tell the creditors to go pound sand, arrest and prosecute those responsible for getting them into the mess, re-issue their own currencies (yes, it will be temporarily painful, but better to rip the band aid off quickly), and begin to get a true handle on this mess.Anyone holding sovereign debt (i.e. large institutional investors with sovereign funds) will lose their shirt.It will be unfortunate, but it will only be temporary. People will still have to eat and buy things. A sense of normalcy will return in a relatively short period of time. If new regulations are allowed to be written, the economy will be revived, albeit with a new sense of purpose. Ideally it would be skewed towards democratic socio-capitalism rather than the every-man-for-himself crony capitalism we've been subjected to over the past 40 years.

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