tag:blogger.com,1999:blog-8817171247555815363.post4815564734816640125..comments2024-03-26T05:57:44.937+00:00Comments on True Economics: 16/05/2011: Debt Restructuring - two insightsTrueEconomicshttp://www.blogger.com/profile/07350536454228478974noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-8817171247555815363.post-14283311310878801322011-05-23T07:16:30.153+01:002011-05-23T07:16:30.153+01:00We are waiting for Greece to fall.
Everyone k...We are waiting for Greece to fall. <br /><br />Everyone knows Neil Armstrong, Not old Buzz!<br /><br />Costs? They are stimuli to some! Taxpayers are equal to the burden!Fungus the Photo!https://www.blogger.com/profile/14879977479841544025noreply@blogger.comtag:blogger.com,1999:blog-8817171247555815363.post-35112574248569627242011-05-17T19:29:38.931+01:002011-05-17T19:29:38.931+01:00What communist revolution? The long suffering priv...What communist revolution? The long suffering private sector would applaud this to the rafters as finally public sector wages would be on a par with theirs. However there would still be their pensions to go after so the Government could run a surplus to start paying off the debt built up over the last three years, mostly to pay the outlandish public sector wages and pensions.Edmund Burkenoreply@blogger.comtag:blogger.com,1999:blog-8817171247555815363.post-49197200141768366272011-05-17T08:46:25.395+01:002011-05-17T08:46:25.395+01:00It seems to me that an outright default - especial...It seems to me that an outright default - especially given Irish commitments to the ECB and EU - cannot be undertaken without, at a minimum, a clear plan for reducing next year's deficit to zero.<br /><br />I am not too au fait with this stuff, but it would seem logical to me that we must assume no one will lend to us at any reasonable rate if we default.<br /><br />So it seems slightly disingenious to propose any solutions which put default on the table without first laying out a clear plan for balancing the budget.<br /><br />This is not easily done. If we were to cut public sector salaries immediately by, say, 30% across-the-board, we could conceivably approach a balanced budget. But how would we cope with the communist revolution that would surely ensue?Ludwig Heinrich Edlernoreply@blogger.comtag:blogger.com,1999:blog-8817171247555815363.post-20034556331877740922011-05-16T18:28:12.313+01:002011-05-16T18:28:12.313+01:00Hi CG,
I am not much disposed to default, especi...Hi CG, <br /><br />I am not much disposed to default, especially unilaterally, especially as it would be default somewhat within what aspires to be, or indeed is, something of a family.<br /><br />There is much current dispute about the extent of our debts, now or what it will be in a few years.<br /><br />As that is a rather basic factor to assessing our, and our EZ family's, situation, perhaps you would give a breakdown of the figure you arrive at.<br /><br />Bye the way, any luck in getting Browne right of St. Francis of Assisi?Peter Kinanehttp://www.effectuationism.comnoreply@blogger.com