AlMac Loc: Newcastle Upon Tyne - UK

Explanation of the Greek Bailout !!!


It is a slow day in a little Greek Village. The rain is beating down and the streets are deserted. Times are tough, everybody is in debt, and everybody lives on credit.

On this particular day a rich German tourist is driving through the village, stops at the local hotel and lays a €100 note on the desk, telling the hotel owner he wants to inspect the rooms upstairs in order to pick one to spend the night.

The owner gives him some keys and, as soon as the visitor has walked upstairs, the hotelier grabs the €100 note and runs next door to pay his debt to the butcher.

The butcher takes the €100 note and runs down the street to repay his debt to the pig farmer.

The pig farmer takes the €100 note and heads off to pay his bill at the supplier of feed and fuel.

The guy at the Farmers' Co-op takes the €100 note and runs to pay his drinks bill at the taverna.

The publican slips the money along to the local prostitute drinking at the bar, who has also been facing hard times and has had to offer him "services" on credit.

The hooker then rushes to the hotel and pays off her room bill to the hotel owner with the €100 note.

The hotel proprietor then places the €100 note back on the counter so the rich traveller will not suspect anything.

At that moment the traveller comes down the stairs, picks up the €100 note, states that the rooms are not satisfactory, pockets the money, and leaves town.

No one produced anything.

No one earned anything.

However, the whole village is now out of debt and looking to the future with a lot more optimism.

And that, Ladies and Gentlemen, is how the bailout package works!

DaveO Loc: Northeast CT

Kind of like "trickle down theory"???

WereWolf1967 Loc: Knoxville, TN

Yes, it's called Obamanomics. Woks for Barry so far.

machia Loc: NJ

Interesting. Steve Forbes wrote about how tipping a waiter five dollars and how that five dollars went towards the waiters taxi cab fare and then how that same five dollars went towards the taxi cab drivers gas as a good thing vs using a credit card. Ideas to ponder.

WereWolf1967 Loc: Knoxville, TN

I can't even spell works correctly. I have illiterate fingers.

lfleischer1 Loc: Garrison, NY

Current budget defict for 2015: $474 Billion. Bush's last budget deficit: $1.4 Trillion (the largest in history). A reduction of almost $1 Trillion. Unemployment rate at beginning of Bush presidency: 4.2%. Unemployment rate at end of Bush presidency: 7.8%. Current unemployment rate: 5.5%. Percent change in jobs: Bush 2.8% (1.3 million); Obama 4.3% (5.7 million and counting).

From Forbes-Sept. 2014: “President Obama achieved a 6.1% unemployment rate in his sixth year, fully one year faster than President Reagan did. At this point in his presidency, President Reagan was still struggling with 7.1% unemployment, and he did not reach into the mid-low 6% range for another full year. So, despite today’s number, the Obama administration has still done considerably better at job creating and reducing unemployment than did the Reagan administration."

From BLS: Under Obama the longest period of uninterrupted private sector job gropwth since 1939--60 months.

I'd suggest you get some facts before simply typing down your uninformed feelings, like my 13 year old niece.

jeep_daddy Loc: Prescott AZ

I like it!

machia Loc: NJ

This is data gathering that reflects an upward cyclical trend after a downward trend complicated by the housing market crash thanks to the CRA, ( thank you Democrats ) and post 911 adjustments.
To compare Obama to Bush is comparing a flawed but deeply commited President to one who continues to brainwash susceptible listeners with his Macchiavellian style socialist rhetoric . To compare Obama to Reagan is comparing a man who defeated the USSR through his convictions to a man who acts at times like a 13 year old schoolboy.
Obama has spent more money than Bush and all the Presidents back to 1789, combined, and with his social angenda we are actually in a deeper depression than in the Great Depression. Oh you don't see people on soup kitchen lines like you did in the 1930's because today it is being masked by the explosion of the welfare state under this inept Commander-in-Chief. 47.6 million Americans are on food stamps now, the longest " soup kitchen line " in history.

OldEarl Loc: Northeast Kansas

Debt is equal to pi times the square of the interest.

lfleischer1 Loc: Garrison, NY

There is so much wroing with your post I don't know where to begin.

1) Reagan was the second worst president in the modern era after dubya. He was responsible for the idiodic meme that government is the cause of all the country's problems and the even more idiotic brain fart called supply side economics that has ruined the country's economy. In addition, the man had a third rate intellect, who could be convinced by someone named Laffer that you could cut taxes and balance the budget. And that's not even mentioning that he illegally sold arms to our enemies (Iran) to prop up the gang of murderers called the Contras and killed 241 brave marines by putting them in harms way in Beirut without adequate security.

2) Re: your increase in the welfare state: you only cite the increase in food stamps which was caused the the resession caused by dubya and the rest of the supply side republicans.

3) Please provide some evidence that Obama's "social agenda" (whatever that is) has caused a deeper depression than the great depression. That is simply more republican 13 year old girl stuff that you guys rely on because you don't have facts to back up your feelings and wishes.

4) BTW, the facts say that the crash was caused by an unfettered financiall sector, and not the CRA. Thus has been proven numerous times.

5) Bush wasn't just flawed. He was an idiot second to none whose policies have just about ruined America. Two unnecessary $4 trillion wars that set in motion the events that spawned chaos in the middle east that will last for decades, including ISIS; tax cuts that bankrupted the country; ignoring warnings that allowed the greatest terrorist attack on America to occur. His "commitment" didn't keep us safe, it spawned the needless death and suffering for thousands of brave soldiers.

6) Obama's "Macchiavellian style socialist rhetoric" Cite five examples of this rhetoric please and how it has brainwashed "susceptible listeners".

I'll stop here becasue this post is too long already.

Facts please not feelings.

dennis2146 Loc: Eastern Idaho

Sure it works for Barry. It just doesn't work for America.

Dennis

WereWolf1967 Loc: Knoxville, TN

I hate to rain on your parade But, All those supposed Obama figures are so BOGUS that it's hilarious. His unemployment figures do not include those that have given up looking for the non-existent jobs HE supposedly created. Another bogus fact is HOW the labor department compiles full time work. If you have 2 pitiful part time jobs, that's full employment. Any figures coming out of the current administration are EXTREMELY suspect.

I get out in the real world on a daily basis, dealing with Mr. O's economic recovery in the industrial sector. NEWS FLASH, there is almost NO economic recovery. Are WE better off under OBAMA? Heck No!!!
Do we owe more to other governments financing our corrupt cronie, Good Ole Boy buddies under Big O, heck yes!

Every time I travel to Ohio or Michigan and look at the empty parking lots at formerly productive manufacturing plants it brings a tear to my eyes and more hatred into my heart for the BOZO in the White House as well as all of his crooked, inept BOZO Czars & cabinet members such as the current Secretary of State, John Kerry.

I'd give the edge to the one on the left

WereWolf1967 Loc: Knoxville, TN

:thumbup: :thumbup: :thumbup: :thumbup:

dennis2146 Loc: Eastern Idaho

You forgot to mention though that with Obama the numbers are figured out a bit differently than with other presidents. Same as with illegal alien figures. As they say, figures don't lie but liars figure. Use the same math procedures and see how the unemployment and illegal alien numbers add up.

Dennis

WereWolf1967 Loc: Knoxville, TN

Your item 6. Just go out in the lower socio-economic neighborhoods and observe daily life. BS artists like Barry charm the pants off of needy, stupid girls, screw them over like Barry has done to our Country, knock them up and haul ass away. "I was unaware of anything". Sound familiar??? The only job that the I.A.I.C. (Illegal Alien in Charge) ever could claim as he did well was "Community Organizer" AKA "Rabble Rouser". Same as Al Shyster and Jesse Jerk-off. Great job training for the number one position in the United States Government.

I suggest that everyone who wants a good investment tip, Buy KY Stock because the entire population of the United States will need some for quite awhile!!!

Wake up and sniff the BS you're peddling.