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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (148415)	1/29/2015 8:19:08 AM
From: RetiredNow	Read Replies (3) \| Respond to of 149319

Good for them. If I was in charge in Greece, I would do a few things immediately. I'd threaten to leave the EU, but not actually do it, because the Euro is weakening and that is good for Greek tourism. I'd renegotiate all sovereign debt and play hardball. I would demand a 90% reduction or I'd go into default...and I'd back it up with a few strategic defaults just to let them know I was serious. I wouldn't balance the budget immediately, but I would create a credible plan over the next 5 years to bring the budget deficit as a percentage of GDP to below the Greek GDP growth rate. I'd also spend more money on tax enforcement. That whole country is a quagmire of tax cheats. I'd take a hard look at how to put people back to work. I'd create serious tax incentives for foreigners who want to invest in Greece or its industries. I'd find ways to bring jobs to Greece by luring companies to Greece for all sorts of work, like call centers and other transportable but lucrative industries. I'd send a delegation to Texas to see how Governor Perry did it and I'd replicate that in Greece. There are so many ways to get Greece back on its feet. But it has to start with DEBT WRITEDOWNS! Keynesians don't understand that rolling over debt in perpetuity is absolutely catastrophic for long term economic growth. Debt forgiveness only happens in free markets. Centrally planned economies dominated by central bankers who represent the interests of big banks, turn over every other stone first before they even begin to consider debt forgiveness. This is what you simply don't understand, because you are ivory tower.