In which John explains the Greek debt crisis, which has pushed the Greek government close to defaulting on its loans, the reasons why the Euro zone and the IMF are desperately trying to bail Greece out, and what the rising cost of sovereign debt means for the massive budget deficits throughout the developed world.
Thanks to Karen Kavett at http://www.youtube.com/xperpetualmotion for the illustration.
Debt Chart: http://en.wikipedia.org/wiki/File:US_Federal_Debt_as_Percent_of_GDP_by_President.jpg
Duration : 0:3:49
August 11th, 2010 at 9:23 am
Vlogbrothers, or …
Vlogbrothers, or anyone else, Please vet this idea for fixing the US debt problem:
1)Tell the minting facilities to print dollars with the phrase “united states note” instead of “federal reserve note,” and then don’t give that money to the federal reserve.
2)Brutally torture and execute the federal reserve board of governors.
3)Brutally torture and execute the boards of the top 100 international lending firms.
4)Return for a refund all that junk we bought from china with federal reserve notes.
August 11th, 2010 at 9:23 am
“Debt isn’t bad, …
“Debt isn’t bad, debt that can’t be paid back is really bad”
Holistically, meaning that all debt with interest is bad as it raises the total amount of debt above the total amount of money hence making it so that the total debt can’t be paid back.
August 11th, 2010 at 9:23 am
just tell mr …
just tell mr rothschild to off we aint paying
August 11th, 2010 at 9:23 am
The solution is to …
The solution is to cut the government, stop tax evasion with fines, accept money only from EU countries (with low interest), let the Germans and other investors supervise the money (because it is their money), and investigate who is behind the theft of Greece and put them on trial for treason. What is happening in Greece will happen everywhere else later. Everything throughout history, happened in Greece first. Anyone who sells a piece of Greece to a foreigner deserves life in prison.
August 11th, 2010 at 9:23 am
The Greek …
The Greek government is as corrupt as the American government. The government in Greece is too big, tax evasion is too common in Greece, and there are too many Greek Tycoons selling out Greece to Wall Street and private banks. There is a lot of dirty business going on in Greece, just like there is in America. Unlike America, Greece can’t invest in war to strengthen their economy. Americans have no clue what’s going on in Greece or even in America.
August 11th, 2010 at 9:23 am
1:00 The American …
1:00 The American debt during 1948 was repaid with German and Japanese treasure and production. Greece is not planning on waging war and stealing resources anytime soon, so there’s a huge difference. Greece can’t pay the debt. The interest rate is way too high and inappropriate. Greece, like all nations, has too many traitors who have lots of money and no love for their country.
August 11th, 2010 at 9:23 am
0:21 Nothing to do …
0:21 Nothing to do with blue or red, not exactly true. Roosevelt had WW2. Reagan (red) America with the Iraq Iran war, and Bush 1 with the gulf (trying to fix Reagen’s up). Clinton (blue) slightly fixed America just so Bush 2 can us up again by continuing Reagan’s and Bush 1′s crusade. Obama is not finished yet, but making us worse so far. Bottom line, Reagan’s administration is to blame.
August 11th, 2010 at 9:23 am
Everybodys fault, …
Everybodys fault, bs.
August 11th, 2010 at 9:23 am
FUCK YOUU HELLAS …
YOUU HELLAS THE BEST
August 11th, 2010 at 9:23 am
Oh, poor greece. …
Oh, poor greece. How will he pay to keep ally his cats now?
August 11th, 2010 at 9:23 am
εμεις φταιμε που …
εμεις φταιμε που σας καναμε ανθρωπους γαμημενα πιθηκια
August 11th, 2010 at 9:23 am
you explained it …
you explained it pretty well.
dot not connecting is that is what the international banks want; bankruptcy of all nations; supreme control via debt & debit chips.
with us: ON
against us: OFF…
engineered now as in the 30′s to get the federal reserve act up & running (enterprise complete)to lend money to nations turning the populace into tax slaves(social insurance no.s) for a national debt to a private centralized bank.Sound familiar?
believe E.U. elite didn’t know about Greece’s borrowing?
August 11th, 2010 at 9:23 am
@batariass… και …
@batariass… και τι περιμενεις βρε καημενε τωρα?να σε βρισω?στο περιμενε θα μεινεις…
August 11th, 2010 at 9:23 am
greece should …
greece should invent the flying car that would get them out of the crisis.
August 11th, 2010 at 9:23 am
Greece DOESN’T owe …
Greece DOESN’T owe to anyone!!!
August 11th, 2010 at 9:23 am
well in 1918 turks …
well in 1918 turks stole 3 bil francs from greeks so maybe they should pay that back
August 11th, 2010 at 9:23 am
it’s a simple …
it’s a simple solution.just make the germans pay to bail out the greeks.The krauts are lazy anyway,just sitting around in the sunshine drinking wine all day.And olives…………………wait a minute,i’m getting confused.Mercedes,siemens,bayer…..they are greek companies…..no?
August 11th, 2010 at 9:23 am
thx gyes….i am …
thx gyes….i am from Greece and i am so proud of you….
August 11th, 2010 at 9:23 am
@bartariass we …
@bartariass we continue to vote corrupt politicians in bc they promise bailouts, like unemployment benefits.
The federal reserve controls the international market, they control the money supply of the united states and basically the world since everything is backed by the dollar. The federal reserve can control the value of the dollar by how much they print out and how high they set the interest rate when it is loned to the US gov’t, banks, and other countries.
August 11th, 2010 at 9:23 am
@mtakman I am 29 …
@mtakman I am 29 years old, I am a Computer Programmer, I use to work as a Night Shift Manager and Night Auditor in big summer ressorts, I know good English, fair enough Polish and I can read (only) ancient Greek. Where did you learn all these things about the Greeks? In TV? Anyway, do you believe you can work until 65 or 70? Man! People like you will doom us all in a life time slavery!
August 11th, 2010 at 9:23 am
nobody can predict.
nobody can predict.
August 11th, 2010 at 9:23 am
@mtakman I am 20 …
@mtakman I am 20 years old..I study in the university..I speak english, french and italian, I have a degree in designing programs and still I think that it will be very hard to find a jod when I graduate..So please don’t say that we greeks are lazy..we are very hard working people..all the kids that I know from germany don’t even speak good english like you. I don’t say it’s bad because you can find a job without having many skills but here we have to be very educated in order to find a job
August 11th, 2010 at 9:23 am
More people need a …
More people need a chance to avoid the consequences of governments! If you are in the UK and need up to £400 in your bank within the hour – even to start an internet biz and get off the treadmill, visit me on DeniseDelivers and see my comments.
August 11th, 2010 at 9:23 am
It is also true …
It is also true that u
decrease the deficit in times of growth(Clinton)
& increase it during recession (Obama).
Bush Sr, 1989 S&L crisis with 160 billion in taxpayer$.
60 billion (half) just for Texas S&L’s.
Skip ahead 20 yrs…
Bush Jr, pays out trillions in taxpayer$
2 taxpayer bailouts with Bush republicans
in office. *Total Coincidence?*
3 unfunded wars listed off budget by Bush
3 wars now included in Obama’s budget.
Obama’s budget is listed as a “record”.
How did that happen?
August 11th, 2010 at 9:23 am
@borcemiovski …
@borcemiovski Racists know no country, they are the same wankers worldwide!! You international piece of shit!