Piketty: Germany Has Never Paid Its Debts

[The Minsky Moment]

Shitting rainbows is more rational than buying Greek bonds. 

You guys keep forgetting the private bondholders got bought out.   

[Iormlund]

In other words, the customers should have stopped showing up at Greek bond auctions 100% of GDP ago. Why did they keep coming?

Because there was an implicit guarantee via Stability and Growth Pact.

[Duque de Bragança]

Sure.  But the US doesn't exactly champion an international coalition every time one country invades another does it 

Because that would be insane. I mean we may not the smartest people around but nobody is that stupid.

So we should have created a massive coalition and forced the issue when Russia invaded Georgia?

Please leave McCain out of this!

[Martinus]

Heh. Tough talk from a country that, despite having complete material superiority, hasn't managed to win a war in two generations.

Germany on the other hand has been so succesful in winning wars.

[crazy canuck]

Heh. Tough talk from a country that, despite having complete material superiority, hasn't managed to win a war in two generations.

Germany on the other hand has been so succesful in winning wars.

You are forgetting the qualifier about having complete material superiority 

Besides, it has always done quite well against Poland.

[Valmy]

You are forgetting the qualifier about having complete material superiority 

Very expensive material though. We are not made of money.

[Valmy]

Besides, it has always done quite well against Poland.

Not always.

[crazy canuck]

You are forgetting the qualifier about having complete material superiority 

Very expensive material though. We are not made of money.

Was it less expensive for the Germans?

[Valmy]

You are forgetting the qualifier about having complete material superiority 

Very expensive material though. We are not made of money.

Was it less expensive for the Germans?

700 billion dollars for the Iraq War...let's see that is about 40 billion dollars in 1940.

Could Germany have afforded to spend that on some marginal conflict thousands of miles from Germany few people in Germany gave a shit about? No? That is what I thought.

[The Minsky Moment]

The US military performed pretty well in those wars, the problem was more the decision to fight the wars in the first place.  Eg the goal in GW2 was to unseat Saddam.  You can question the mission but it was accomplished.

The US lost in Vietnam, and the end result is now Vietnam is a key US ally in Southeast Asia.   Something for the hawks to reflect about re Iran.

[Iormlund]

I thought the goal of GW2 was to spread freedom and democracy around.

[The Minsky Moment]

There is democracy in Iraq, for better or worse.

[Zanza]

There is democracy in Iraq, for better or worse.

Isn't half of it a caliphate by now?

[Valmy]

There is democracy in Iraq, for better or worse.

Isn't half of it a caliphate by now?

That is kind of a result of that actually. Democracy meant two Shias and one Sunni were voting on what was the true religion. The Sunnis found their allies.

[crazy canuck]

You are forgetting the qualifier about having complete material superiority 

Very expensive material though. We are not made of money.

Was it less expensive for the Germans?

700 billion dollars for the Iraq War...let's see that is about 40 billion dollars in 1940.

Could Germany have afforded to spend that on some marginal conflict thousands of miles from Germany few people in Germany gave a shit about? No? That is what I thought.

What are you on about?  Go back and look at the claim I was responding to.