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I drink your milkshake! a metaphor for capitalism
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<blockquote data-quote="vantexan" data-source="post: 4462574" data-attributes="member: 24302"><p>Why was Greece given loans? To maintain their social programs while they tried to figure out how to pay for it. Only increased their debt. To get bailed out with even more loans they had to impose austerity because the lenders were no longer willing to increase their risk to people who wouldn't be fiscally responsible. The banks don't print money Ricky. They loan in order to make a profit and pay interest. If they lose that money they have to answer to regulators, share holders, depositors. They aren't going to keep giving away money to countries like Greece to never see it again. No matter what economic system things have to be paid for or the system collapses. The advantage of capitalism that you can't seem to see is it has millions of moving parts that work if those in charge of a particular part stand to personally lose if they aren't responsible and proactive. Communism and socialism centralize power in bureaucracies that don't lose anything if they're inefficient. Ultimately they don't work.</p></blockquote><p></p>
[QUOTE="vantexan, post: 4462574, member: 24302"] Why was Greece given loans? To maintain their social programs while they tried to figure out how to pay for it. Only increased their debt. To get bailed out with even more loans they had to impose austerity because the lenders were no longer willing to increase their risk to people who wouldn't be fiscally responsible. The banks don't print money Ricky. They loan in order to make a profit and pay interest. If they lose that money they have to answer to regulators, share holders, depositors. They aren't going to keep giving away money to countries like Greece to never see it again. No matter what economic system things have to be paid for or the system collapses. The advantage of capitalism that you can't seem to see is it has millions of moving parts that work if those in charge of a particular part stand to personally lose if they aren't responsible and proactive. Communism and socialism centralize power in bureaucracies that don't lose anything if they're inefficient. Ultimately they don't work. [/QUOTE]
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I drink your milkshake! a metaphor for capitalism
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