Did we not just have a debt debate?

reply to post by Rockpuck


Ah yes, of course you would bring greece.
The problem with greece is complex.
8% industrial rate
service sector, opposed to what you would expect, not much better.
HUGE black market, depriving the government of income
All debt in Euros
And the last one is the biggie.
See, greece gave over their central banking authority to the ECB.
All greek debt is essentially foreign debt, because they have no controll over the currency. In the past they just printed another drachmen banknote with yet another at the end 0, and nobody cared.
Goldman sachs cooked their books to make sure they meet requierments, and last year it started to show. (If you ask me they shouldn't have joined the euro when they did) Heck, even germany can't meet the debt requirement! (But then again, without germany, no euro, so nobody really cares when they don't)
Thing is with the central bank in frankfurt, the governments hands are very tightly tied in dealing with the crisis. And so it spirals out of control.

Of course not joining the Euro would have hurt their tourism, so you can't really blame them for trying.

reply to post by Rockpuck

At least in my time of being in chamber of commerce and observing panels discussing commercial development .. I have never once heard any developer, industry or business say that they would relocate, expand or otherwise increase production because a new lane was added to a by-street. Except perhaps when wal-mart moves into an area and a new intersection is built .. but that ultimately destroys jobs.

Going back to the days of FDR, when shipping cross-country was a major ordeal, things like paved roads would be a considerable industry motivator. Obviously, with innumerable roads today, it would take one hell of an offering to entice industry into the area with road expansions/improvements.

As for Wal-Mart, and places like it - that is really part of a growing economy. As population grows and the number of industry producers becomes greater, the need for more cost-effective retail begins to drive the market. Buying at the corner "maw and paw" store becomes more of a luxury expense - so we see corporations like Wal-Mart move in and provide a necessary service. Some retail jobs are lost, yes - but many switch into offering more niche items (improving the diversity of commercial availability) or explore other job opportunities that have become available because of the decreased cost of living that comes with the larger retailers.

I'm not going to say they are all good - but they are simply a part of the economy. At one point in time, the corner grocery store was blamed for undermining the farmer's market. Now, supermarkets are accused of doing the same thing to the grocery stores and other small business retailers. It's simply the market shifting to accommodate a more dense and populous market.