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(Reuters)   Revised figures show the Greek recession was deeper than previously thought. Gee, what was the first clue? The contracting GDP, the 25% unemployment, or the rioting in the streets?   (reuters.com) divider line 24
    More: Followup, GDP, Greek, statistical significance, Greek economy, recession, tranches, unemployment  
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590 clicks; posted to Business » on 08 Oct 2012 at 11:59 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-10-08 09:31:44 AM
For me, it was the plummeting of souvlaki futures.
 
2012-10-08 09:42:50 AM
MOAR AUSTERITY!
 
2012-10-08 10:43:56 AM
Coming soon to a city near you if Romney is elected.
 
2012-10-08 11:10:58 AM
I suspect that the nationally subsidized retirement at age 22 doesn't help.
 
ZAZ [TotalFark]
2012-10-08 11:48:53 AM
It wasn't the rioting in the streets, that's the way Europeans amuse themselves.
 
2012-10-08 11:55:06 AM
It's always worse then they tell you.


always
 
2012-10-08 12:09:46 PM
FTA: The Greek economy has shrunk by about a fifth since 2008, partly due to punishing austerity measures demanded in exchange for the bailouts

Maybe, just maybe, austerity was an illadvised course of action.
 
F42
2012-10-08 12:17:17 PM

FlashHarry: MOAR AUSTERITY!


Cut ALL of the salaries!
 
2012-10-08 12:24:21 PM
It's almost as if austerity doesn't actually work, man, but that would be crazy.
 
2012-10-08 12:36:21 PM
Clearly they need to borrow more and provide more entitlements. That will work.
 
2012-10-08 12:43:45 PM

Muta: FTA: The Greek economy has shrunk by about a fifth since 2008, partly due to punishing austerity measures demanded in exchange for the bailouts

Maybe, just maybe, austerity was an illadvised course of action.


It's an attempt to stop them spending more than they make before nobody will lend to them anymore and they hit a brick wall.

Looks like the brick wall is still coming.
 
2012-10-08 12:46:10 PM
We'll get our revised figures after the election...
 
2012-10-08 01:03:22 PM
Living the libertarian dream.
 
2012-10-08 01:29:20 PM

ZAZ: It wasn't the rioting in the streets, that's the way Europeans amuse themselves.


Yeah, and it's pretty much the Greek national sport. Rioting in Greece just means they're bored.
 
2012-10-08 04:39:09 PM

Aarontology: For me, it was the plummeting of souvlaki futures.


For me, it was the neo-nazis. I like the idea of austerity, but that kinda highlights a flaw in the system.
 
2012-10-08 04:55:07 PM

lilbjorn: Living the libertarian spend more than you have like there is no tomorrow dream and then waking up with a hangover because there was a tomorrow.

 
2012-10-08 06:34:10 PM
Really only a few years after the fact we're discovering how bad 2007-2008 was for the financial systems of the United States. Can't wait for 10 years down the road when we find out that the USA was destroyed but brought back by the will of one man... the Paper Chase Guy.
 
2012-10-08 10:33:41 PM
Things were going super awesome until austerity! Everyone had 20 gajillion dollars!
 
2012-10-08 11:01:11 PM
Wait, so what are you anti austerity people proposing Greece should've done?
Keep in mind that country's not the US, so they don't have superpower status to gradually fritter away while stalling for time in the hopes of outlasting the recession. They were straight out of money and no one in their right mind would lend them more.

And, by the way, austerity works. No, not like a dose of antibiotics that makes you feel sicker for a week and then you're all better. More like a heavy dose of chemo and radiation: a long, grim and difficult period due to which your odds of surviving go from slim to plausible, provided you're alive when it's over. However, most people would say that prognosis beats the alternative.
 
2012-10-09 02:31:04 AM
Austerity is working if you're in the Molotov biz.
 
2012-10-09 03:01:52 AM
"previously thought"

By who, complete morons. Good Lord. It's even worse than the real estate bubble that occurred during the GW Bush years and only an absolute, completely blind idiot didn't see that coming. Oh yeah, the entire administration was from Ivy League schools - no wonder they weren't able to see the obvious.
 
2012-10-09 03:44:49 AM

Muta: FTA: The Greek economy has shrunk by about a fifth since 2008, partly due to punishing austerity measures demanded in exchange for the bailouts

Maybe, just maybe, austerity was an illadvised course of action.


Yeah. It would have been so much better to push the problem into the future.
 
2012-10-09 03:47:27 AM

Here'sJohnny: Wait, so what are you anti austerity people proposing Greece should've done?
Keep in mind that country's not the US, so they don't have superpower status to gradually fritter away while stalling for time in the hopes of outlasting the recession. They were straight out of money and no one in their right mind would lend them more.

And, by the way, austerity works. No, not like a dose of antibiotics that makes you feel sicker for a week and then you're all better. More like a heavy dose of chemo and radiation: a long, grim and difficult period due to which your odds of surviving go from slim to plausible, provided you're alive when it's over. However, most people would say that prognosis beats the alternative.


You assume that there is a solution. No possible action could prevent a crash and burn. Just like here in the US.
 
2012-10-09 08:29:51 AM
GDP contracted due to austerity? *GASP*
 
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