Re:In Greece, Property Is Debt
by DickingAround on Wednesday November 02, 2016 @11:15AM
(#12855613)
A very reasonable response. Thank you.
I would like to push back on one point of the top though, I don't think the world is so locked in to the consumption of a small nation or any small population. Indeed, panic would happen if America banned imports. But if many in Greece had to take a step back and dramatically reduce their IPhone consumption until they invented new ways to add value, I doubt anyone would notice. The panic of a Greek default seemed to more step from the many who invested there without expecting a collapse. Even now I think a Greek default would be pretty non-eventful given how much warning time everyone had. (Debt defaults of small countries being relatively common)
I would like to push back on one point of the top though, I don't think the world is so locked in to the consumption of a small nation or any small population. Indeed, panic would happen if America banned imports. But if many in Greece had to take a step back and dramatically reduce their IPhone consumption until they invented new ways to add value, I doubt anyone would notice. The panic of a Greek default seemed to more step from the many who invested there without expecting a collapse. Even now I think a Greek default would be pretty non-eventful given how much warning time everyone had. (Debt defaults of small countries being relatively common)