In Greece, austerity kindles deep discontent, breakdown in rule of law

Started by jimmy olsen, May 15, 2011, 05:59:50 AM

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MadImmortalMan

#135
July 05, 2011, 11:39:15 AM
Quote from: Razgovory on July 05, 2011, 11:31:37 AM
Governments could offer their citizens as collateral.

You're not far off.
"Stability is destabilizing." --Hyman Minsky

"Complacency can be a self-denying prophecy."
"We have nothing to fear but lack of fear itself." --Larry Summers

Martim Silva

#136
July 05, 2011, 11:41:50 AM
Quote from: MadImmortalMan on July 05, 2011, 11:39:15 AM
Quote from: Razgovory on July 05, 2011, 11:31:37 AM
Governments could offer their citizens as collateral.

You're not far off.

Correct, governments offer the ability to tax the living daylights out of their citizens and companies as collateral.

But sometimes that may not be enough, as overtaxing can collapse an economy.

Admiral Yi

#137
July 05, 2011, 04:54:51 PM
Quote from: Martim Silva on July 05, 2011, 11:41:50 AM
Correct, governments offer the ability to tax the living daylights out of their citizens and companies as collateral.

Countries stopped doing that with the end of the Ottoman Empire.
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