Core Principle: Your Fantasy Economy is Bullshit

[rasmuswagner]

I'll let Roger take this one.

We're not teenagers here. Text or GTFO.

[Username17]

But what possible difference is there between that position and the equally insane position that fiat currencies aren't sustainable?

I'll let Roger take this one.

You realize that that was a comedy bit, and was not actually serious economic analysis, right? The amounts of money being thrown around were intended to sound big, but the fact is that Germany actually could simply write off the debt of the Southern European economies and it wouldn't be a problem. They aren't doing it because they are short sighted and don't want to see their bankers lose a lot of money, but to act like Germany needs Italy to pay their bankers in order to have the money to do things is good only for a comedy bit. Germany isn't the German banks, and Germany needs no such thing.

Basically, if you are hoping that Australian comedy programs are going to explain European finances to you, you have some fairly significant problems ahead of you in life. The people involved are not experts in finance, politics, or Europe. They are comedians from half the world away and have no fucking idea what they are talking about. It was funny, but it wasn't informative.

-Username17

[infected slut princess]

They aren't doing it because they are short sighted and don't want to see their bankers lose a lot of money, but to act like Germany needs Italy to pay their bankers in order to have the money to do things is good only for a comedy bit. Germany isn't the German banks, and Germany needs no such thing.

We are told by our "great leaders" (who are typically owned by bankers) if anything bad happens to a country's banks, the entire universe will explode because of TBTF and everyone will lose all their money and have to eat garbage for dinner. Hence the supposed justification for bailing out some European countries that are too broke to pay off their debts to other countries' banks, instead of allowing the repudiation of those big debts and letting the banks take their losses. Just keep the money flowing to the banks on those high-yield bonds they bought. Life as we know it will end if banks lose money and some countries have to pay higher interest rates yadda yadda do whatever Angela Merkel wants to help her banker friends.