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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Terry Maloney who wrote (419498)	12/15/2011 8:03:45 AM
From: yard_man	1 Recommendation Read Replies (2) \| Respond to of 436258

I've always thought it is splitting hairs -- what did Greece do -- default or debase?? -- I'd say default ... We never call it default -- but that will be the final end of all debasement. There's no fiscal discipline anywhere big enough and bad enough. But either policy, in a debt bloated world results in a contraction in economic activity. How about the period between now and the "last financial crisis?" Do you admit any real economic growth took place and if it did, where are the jobs to prove it? the only thing that recovered was stock prices and still more debt was piled on.