tag:blogger.com,1999:blog-22301740.post7198790665290653511..comments2024-03-26T09:49:07.212-07:00Comments on The Scratching Post: A Bit More on GreeceK T Cathttp://www.blogger.com/profile/10259428595745509790noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-22301740.post-89456570776560450832010-02-22T17:43:53.417-08:002010-02-22T17:43:53.417-08:00But it makes perfect sense. It's the differen...But it makes perfect sense. It's the difference between current and deferred pain.<br /><br />An interesting analogy is Global Warming. Today there seems to be no reliable data indicating global temperature increases (as the economic polices started there weren't any obvious issues either I'd bet). The day may well come when temperatures start to rise, and we won't really know why (today the economic problems and causes are clear). Eventually, the global environmental "punishment" may exceed anything we'd have to do today (see Greece in 2-5 years).<br /><br />It makes me pause.Ohioan@Hearthttps://www.blogger.com/profile/08650494620853971183noreply@blogger.comtag:blogger.com,1999:blog-22301740.post-36833609608981811432010-02-22T10:26:23.713-08:002010-02-22T10:26:23.713-08:00Yeah, I thought that was a really strange logical ...Yeah, I thought that was a really strange logical discontinuity. Argentina after their default wasn't exactly a resounding success. It's not like there's some kind of easy way out once you've gotten yourself so badly behind the 8-ball.K T Cathttps://www.blogger.com/profile/10259428595745509790noreply@blogger.comtag:blogger.com,1999:blog-22301740.post-68442708003445575442010-02-22T10:17:17.068-08:002010-02-22T10:17:17.068-08:00So funny - "The required austerity would be t...So funny - "The required austerity would be too punishing". Once they default they won't be able to raise anything in the bond market so the austerity is coming no matter what.Jeff Burtonhttps://www.blogger.com/profile/18068021849429001560noreply@blogger.com