Actually major is doing a pretty good job of it as is. A lot of TARP was done in the form of preferred shares, which effectively do require interest in the form of dividends. As opposed to what, smashing windows and striking over their government pensions that they refuse to pay taxes to support?
The austerity measures were not proposed by central bankers, but other governments in the Euro. Germany, in particular, has been the most strict.
Does he really? I'll have to stop in some day. Would it be safe. Some of these moderates can be pretty tightly wired.
Oh, excuse me. We bailed them out through the Fed, not the TARP. I take it back are you corporate counsel for the big banks.
Lurking behind the criticsm of Greece by conservatives and Amerian moderates and certainly the business press that provides most of their info is the notion that the lazy Greeks are just another example of a failed welfare state. Dean Baker addresses this: ******** Dean Baker | Another Front Page Editorial on Deficits at the Washington Post Dean Baker is taking The Washington Post (”a.k.a. Fox on 15th Street”) to task for continuing to aggressively push its anti-welfare state agenda in a front page news article on the Greek financial crisis. Sez the Post:“‘We can’t finance our social model anymore — with 1 percent structural growth we can’t play a role in the world,’ European Council President Herman Van Rompuy said Monday in remarks at the World Economic Forum in Brussels, just hours after European Union finance ministers approved the new program.” Balderdash, responds Baker…. “In fact, there is nothing resembling the consensus about the failure of Europe’s social model that this editorial implies. Unlike the United States, Europe as a whole has generally run balance of trade surpluses, suggesting that the European economies are more competitive than the U.S. economy. It is also worth noting that the welfare states in the countries facing crises right now (Greece, Portugal, Spain, and Ireland) rank among the weaker ones in Europe. The relatively healthy economies of France, Germany, the Netherlands, and the Scandanavian countries all have much stronger welfare states.”http://www.irishleftreview.org/2010/05/11/dean-baker-front-page-editorial-deficits-washington-post/
Fail. Just because the US has a trade deficit does NOT necessarily mean it is less competitive that countries that run trade surpluses. Again, just basic economics, dude.
So suppose I give you give you literally an unlimited money supply at 0% interest which you are free to go ahead and loan at 6%, and if somehow you make a lot of bad loans well in that case don't worry about it I'll give you cash to fix that. Maybe I am simplifying a few things, but I am not an econ major.
You are simplifying a lot of things - that's neither what the Fed did, nor what the banks did, so it's pretty irrelevant to the discussion.
What do you do if your country is on the verge of economic collapse? Go on strike, of course! http://www.reuters.com/article/idUSLDE64B18U20100512?type=marketsNews
I like how they vow to stop the pension reform. I suppose they will pay themselves with counterfeit euros? Olives?
