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Old 07-30-2011, 06:46 PM   #145
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Default Re: Credit crisis in Greece, others to follow...?

Quote:
Originally Posted by Bobby View Post
This would cause enormous problems for all of us. But I see your point. Maybe this is what is needed to make the point. Those who are ready to enjoy the rewards, must also be ready to bear the risk they take.
Yes, we would go into deep economic recession, possibly even depression (> 10% GDP loss). That's exactly what should have happened three years ago and if it had we'd probably be on the road to recovery right now. Instead the old system is kept alive, throwing endless money at it and not making any necessary changes.
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