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July 10, 2015

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john jay

friends:

actually, maybe greece could borrow the money from michael jordon and/or lebron james.

i don't know what the state of their liquidity is, but, i suspect it better than greece's.

this is what we have here. a classic definition of what it means to be a bankrupt state. well, a state that is more bankrupt than the rest of them, ... , say, ireland, spain, the uk, and the united states.

china is not bankrupt because it has clever accountants. and, russia looks good, ... , until the oil and gas run out.

such is macroeconomics.

john jay

sDee

You've made clear argument to follow JohnJay. Great insight.

Kinda like the US Federal government underwriting massive debt for our states, counties, and cities?

Gutting state sovereignty guts the Constitution, removing all limits on Federal power.

Subsume city/county government and then control individual property rights, water, and freedom of movement.

Different execution strategies - same agenda.

john jay

sDee:

power of the purse.

funny how power follows the money, ain't it? laughing.

and, yes, the feds do the same every day to the "power" of the states.

it is sort of like a prostitute who gets a steady john who pays all the overhead, and then some.

pretty soon the bastard gets pushy, and demanding. hard to turn down the income flow.

from the german standpoint, hell of a lot easier to pay for a country, especially one w/ round heels like greece, than it is to bear the cost of conquest by arms.

and, as far as the greeks go, once you've whored once, pretty hard to reassert your virtue.

and, as you've observe, sDee, the same obtains here.

john jay

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