gregkavarnos wrote:What you've come over all right wing Greg?
Well CM, I challenge you to give me one fiscally sound reason for poor people not to die on the streets of curable diseases. Well?
As for this
Hokay, I guess you are now against bank bailouts...
That's the problem with the designations left and right wing. Is a bank bailout left wing or right wing? It is socialist for the state to interfere in the functioning of a private corporation, but at the same time throwing wads of money at rich people ain't exactly left wing is it? So? How exactly to define the situation? An economic liberal would say it is auhoritarian for the state to interfere in the banking sector, but most economic liberals are bankers or "friends" of bankers. A "left" socialist would say that propping up the private sector (banks) at the expense of the public sector (state) is authoritarian and right wing.
Personally I am against bank bailouts unless the bailout is accompanied by a proportional buy out of the shares of the bank by the state. Nationalisation I think some call it. If the state is going to give money then it should do so by purchasing stocks in the bank (and when the stock ratio is high enough, controlling the bank). Terms, like the compulsory selling (with a profit, of course) of the banks shares back to private investors when stocks rise beyond a certain value (say 100% of the value of the stock price that the state brought at) would be fair. But freely giving wads of taxpayers money to a bunch of losers that bankrupted a bank because of their greed and desire... NO!
...and want Greece to get off the Eurodollar dole?
No, Greece should not leave the Euro and its financial support mechanisms but there should be MUCH stricter control by the EU of how Greece spends the money allocated to it by the EU
. This would help overcome the rmapant corruption that exists in Greece. The control though should only be over the allocated funds, not the entire Greek state economy.
I say this becuase I have seen what happens with EU money in Greece. But don't kid yourself, when the "handouts" were happening, part of the package (for the private sector) was cumpolsory bank loans for a percentage of the total investment. There are those bankers again!!! For example an EU program I was in required 70% financing by my company, 15% by government (EU) grant and 15% by bank loan. Unfortunately the grant "vanished" and since we put all our cash into the business we were left, at the end, with the bank loan and a lack of liquidity.
This sort of s**t f****d up the Greek economy. On the other hand other politically connected private companies fudged the figures regarding private financial participtaion (ie they put in less than actually stated, some actually put in no money whatsoever) put the rest of the money into the loans and walked off with the handouts.
Left or right?