The IMF is at the doorstep

Charles Ramos7 said:Who's telling you what to buy? Since when is it forbidden to pick up a Japanese car or shop at Walmart instead?

If they were offering it to you, you’d probably end up buying a Mercedes or a Honda.
Well, obviously a Mercedes—because with those price tags, owning one becomes a status symbol, and that's exactly what they're banking on.
People get hooked. They play on basic human impulses just to turn a profit, exploiting fears of shortages or promises of sudden prosperity. Now, everyone's chasing this idea of "the good life." They see a neighbor driving a Mercedes and think, "Why should I settle for less?" Even if it means taking out a massive loan. And thank God, banks seem to sprout up everywhere like mushrooms after a rainstorm, specifically popping up just to offer these endless auto loans.
People land jobs, start businesses, spend money they don't have, and pile up mortgages and car loans.
Then, once the banks decide to tighten the screws, they seize the real estate and the Mercedes vehicles. On top of that, you have a government that borrowed heavily just to fuel consumption, forced to take out even more loans and liquidate assets as if the group that came in specifically to fleece us hasn't already taken enough.
And then, to top it all off, they have the nerve to lecture us through the IMF.

Sam Ruiz60 said:If they were offering it to you, you’d probably end up buying a Mercedes or a Honda.
Well, obviously a Mercedes—because with those price tags, owning one becomes a status symbol, and that's exactly what they're banking on.
People get hooked. They play on basic human impulses just to turn a profit, exploiting fears of shortages or promises of sudden prosperity. Now, everyone's chasing this idea of "the good life." They see a neighbor driving a Mercedes and think, "Why should I settle for less?" Even if it means taking out a massive loan. And thank God, banks seem to sprout up everywhere like mushrooms after a rainstorm, specifically popping up just to offer these endless auto loans.
People land jobs, start businesses, spend money they don't have, and pile up mortgages and car loans.
Then, once the banks decide to tighten the screws, they seize the real estate and the Mercedes vehicles. On top of that, you have a government that borrowed heavily just to fuel consumption, forced to take out even more loans and liquidate assets as if the group that came in specifically to fleece us hasn't already taken enough.
And then, to top it all off, they have the nerve to lecture us through the IMF.

Right, because what we really need is a powerful state deciding exactly how citizens should manage their own property. Sounds just like North Korea, doesn't it? 👏

"Quote:"

Sam Ruiz60 said:If they were offering it to you, you’d probably end up buying a Mercedes or a Honda.
Well, obviously a Mercedes—because with those price tags, owning one becomes a status symbol, and that's exactly what they're banking on.
People get hooked. They play on basic human impulses just to turn a profit, exploiting fears of shortages or promises of sudden prosperity. Now, everyone's chasing this idea of "the good life." They see a neighbor driving a Mercedes and think, "Why should I settle for less?" Even if it means taking out a massive loan. And thank God, banks seem to sprout up everywhere like mushrooms after a rainstorm, specifically popping up just to offer these endless auto loans.
People land jobs, start businesses, spend money they don't have, and pile up mortgages and car loans.
Then, once the banks decide to tighten the screws, they seize the real estate and the Mercedes vehicles. On top of that, you have a government that borrowed heavily just to fuel consumption, forced to take out even more loans and liquidate assets as if the group that came in specifically to fleece us hasn't already taken enough.
And then, to top it all off, they have the nerve to lecture us through the IMF.

Exactly. You buy German stuff because your neighbors have it, not because you're obsessed with Germany. So why blame the Germans for that?

Harold Martin10 said:I actually think the IMF is a solid option. It provides cheaper credit, and they insist on those structural reforms that we really need to push through anyway. If you ask me, the real problem isn't the loans—it's the corrupt political cronies and bureaucrats. They're the ones saddling future generations with massive interest rates while suffocating the healthy parts of our economy with endless red tape and high taxes.

Those political cronies serve one specific purpose: they take the money borrowed through national debt and spend it at foreign-owned big-box retailers. Even someone like Ivica Todorić isn't really the main player here; the banks are the true architects, and he’s just an intermediary. Essentially, these people facilitate the outflow of capital through the banking system. When they buy things at a mall or pick up a new car, they are supporting the banks and foreign interests, all while paying taxes that simply go toward servicing the national debt. We are left with nothing but crumbs.
If it weren't for these well-paid bureaucrats, many of these shopping centers would have to close their doors because the average citizen is living right on the edge.
In a sense, these cronies are reliable taxpayers, which makes them indispensable to a system designed to milk the American people dry.

Charles Ramos7 said:"Quote:"

Exactly. You buy German stuff because your neighbors have it, not because you're obsessed with Germany. So why blame the Germans for that?

The real issue lies with the corrupt politicians who allowed this to happen. But was there corruption coming from foreign power centers? We could have lived quite comfortably off tourism and domestic manufacturing if we hadn't piled up massive debts immediately after gaining independence and chased a fake standard of living based entirely on imports.
We wouldn't be facing such significant debt today.
Foreign entities shouldn't play the victim and pretend they didn't know what they were doing. They knew exactly which politicians they were dealing with and who they needed to bribe to walk in here and treat us like mindless cattle, leading us straight toward ruin.

Sam Ruiz60 said:The real issue lies with the corrupt politicians who allowed this to happen. But was there corruption coming from foreign power centers? We could have lived quite comfortably off tourism and domestic manufacturing if we hadn't piled up massive debts immediately after gaining independence and chased a fake standard of living based entirely on imports.
We wouldn't be facing such significant debt today.
Foreign entities shouldn't play the victim and pretend they didn't know what they were doing. They knew exactly which politicians they were dealing with and who they needed to bribe to walk in here and treat us like mindless cattle, leading us straight toward ruin.

What are you getting at? That we should have banned German cars (while simultaneously voting to join the EU)? And again, what "dumping" are you talking about when anyone can just go out and buy the car they want?

Harold Martin10 said:Right, because what we really need is a powerful state deciding exactly how citizens should manage their own property. Sounds just like North Korea, doesn't it? 👏

Americans coming out of the post-war era didn't have much to work with either.
Then, there was this rush to chase a fake standard of living built entirely on debt. It wasn't even necessary; things could have been built up gradually, step by step.
The problem is, once you sell off your country—your most precious assets—you're left completely stranded if you don't manage to buy them back.
In the end, the banks—specifically foreign interests—ended up owning huge chunks of American land through that whole era of exploitation.

Charles Ramos7 said:What are you getting at? That we should have banned German cars (while simultaneously voting to join the EU)? And again, what "dumping" are you talking about when anyone can just go out and buy the car they want?

We shouldn't have just outlawed borrowing by decree. If credit hadn't been available, people wouldn't have had any way to afford expensive cars in the first place.

Sam Ruiz60 said:We shouldn't have just outlawed borrowing by decree. If credit hadn't been available, people wouldn't have had any way to afford expensive cars in the first place.

What does that even have to do with Germans? It's not like they were borrowing from German banks, nor was anyone forcing them to buy expensive German cars.

Charles Ramos7 said:What are you getting at? That we should have banned German cars (while simultaneously voting to join the EU)? And again, what "dumping" are you talking about when anyone can just go out and buy the car they want?

No, my point is we should have just bumped up the excise taxes a bit higher than they do in Denmark and called it a day.

Nicholas Ross38 said:The IMF in America—what’s their deal lately? The International Monetary Fund is apparently losing sleep over the fact that the US is still stuck in this recessionary funk. They're pointing fingers at our uncompetitive exports, corporate debt levels, and the massive mountain of public sector debt. I guess they're worried. Are you guys actually ready for whatever austerity measures and "reforms" the IMF decides to throw our way? How are you planning to stay off their radar when the crackdown hits?

Yeah, because we need some brutal cuts to the public sector and the government... and without the IMF, it’s just not going to happen.

We could have handled this ourselves, but clearly, we haven't done a damn thing. The finger-pointing just keeps going, while the national debt is pushing toward 100% and the economy is basically in freefall...

Our interest payments are way higher than Greece's, and our debt maturity is shorter too. Right now, we're essentially the riskiest country in the EU—aside from Greece—that isn't even properly accessing the markets.

With zero percent growth, interest rates are going to slowly start drowning us... and once the Fed hikes them up, the tidal wave is coming.

Slashing the size of the state is only one piece of the puzzle; we need to fix the entire tax system and everything else...

ruggedgull36 said:Yeah, because we need some brutal cuts to the public sector and the government... and without the IMF, it’s just not going to happen.

We could have handled this ourselves, but clearly, we haven't done a damn thing. The finger-pointing just keeps going, while the national debt is pushing toward 100% and the economy is basically in freefall...

Our interest payments are way higher than Greece's, and our debt maturity is shorter too. Right now, we're essentially the riskiest country in the EU—aside from Greece—that isn't even properly accessing the markets.

With zero percent growth, interest rates are going to slowly start drowning us... and once the Fed hikes them up, the tidal wave is coming.

Slashing the size of the state is only one piece of the puzzle; we need to fix the entire tax system and everything else...

And like, is the IMF supposed to be this perfect magic fix? 🙄

Matthew Rodriguez9 said:And like, is the IMF supposed to be this perfect magic fix? 🙄

The IMF is strictly a last resort. They don't just show up if a country can manage its own debt on the open market.

wearytrucker22 said:The IMF is strictly a last resort. They don't just show up if a country can manage its own debt on the open market.

Not necessarily... you can always go ahead and ask for help or set up an arrangement in advance. But, looking at how things have gone so far, absolutely nothing has been done to stop this debt from spiraling—so we're going to need some much more radical solutions.

Just to put this into perspective—Slovakia, which is also a transitional economy, pays interest at about 1%, while we're paying many times that amount.

It’s obvious we can't keep going like this for much longer.

The forecast? A potential bankruptcy, living at the very bottom of the EU, maybe scraping by with 1% growth...

Sam Ruiz60 said:We could just flip the script and imagine a world without Greece or America, couldn't we?

Think about it—people buying overpriced Volkswagens and Mercedes, or filling their carts at Walmart and Lidl with German goods because their own domestic industries were systematically dismantled by central planning.
The Germans would be left with absolutely nothing.

They don't have raw materials, and they don't even have a climate suitable for large-scale agriculture.
All they really have is what they manufacture, which they then offload onto other nations, often using the IMF and similar tactics to pull the wool over everyone's eyes.
Of course, people go along with it. I mean, who wouldn't choose the path of least resistance when there are plenty of people willing to do all the heavy lifting for them? But does that mean we owe anything to such manipulative players after they've used us?

Oh, so Germans produce things!!!
So Germans work!!!!
What's so bad about that!!!!
That's exactly why they can "dump" whatever they make onto anyone else!!!
And what exactly are we producing!?!?

Sam Ruiz60 said:If they were offering it to you, you’d probably end up buying a Mercedes or a Honda.
Well, obviously a Mercedes—because with those price tags, owning one becomes a status symbol, and that's exactly what they're banking on.
People get hooked. They play on basic human impulses just to turn a profit, exploiting fears of shortages or promises of sudden prosperity. Now, everyone's chasing this idea of "the good life." They see a neighbor driving a Mercedes and think, "Why should I settle for less?" Even if it means taking out a massive loan. And thank God, banks seem to sprout up everywhere like mushrooms after a rainstorm, specifically popping up just to offer these endless auto loans.
People land jobs, start businesses, spend money they don't have, and pile up mortgages and car loans.
Then, once the banks decide to tighten the screws, they seize the real estate and the Mercedes vehicles. On top of that, you have a government that borrowed heavily just to fuel consumption, forced to take out even more loans and liquidate assets as if the group that came in specifically to fleece us hasn't already taken enough.
And then, to top it all off, they have the nerve to lecture us through the IMF.

Do you seriously believe most people today are ready to buy a car just because of their neighbors!? Is a Mercedes really bought solely because the guy next door has one!? If Mercedes-Benz relied on that kind of shallow thinking, they would have gone bankrupt ages ago!!!!

Nicholas Ross38 said:The IMF in America—what’s their deal lately? The International Monetary Fund is apparently losing sleep over the fact that the US is still stuck in this recessionary funk. They're pointing fingers at our uncompetitive exports, corporate debt levels, and the massive mountain of public sector debt. I guess they're worried. Are you guys actually ready for whatever austerity measures and "reforms" the IMF decides to throw our way? How are you planning to stay off their radar when the crackdown hits?

I am completely ready:
I've got a 3-meter plastic paddle for rowing and a 500-meter net for casting in the shallows. Plus, I have a 200-meter permit the government handed me for free. I'll sell my grandmother's house, renovate my father's old shack—which, mind you, doesn't even have clean titles—and slap some solar panels on the roof. That way, there's no property tax, and no bills for electricity or water (just a water truck).
All I need to do is buy five goats and a billy goat, and the crisis is solved. I have a few acres of scrubland at my disposal. Naturally, I'll also be following in my ancestors' footsteps.
The rest of the money goes to the kids so they can find it easier to settle outside the US. (They already have degrees, so they might as well enroll in advanced English, German, or French courses).

Jokes aside. The IMF isn't going to hit me too hard because I work for a private firm where I just pull in a raw salary. Personally, I'm all for the IMF.

ruggedgull36 said:Yeah, because we need some brutal cuts to the public sector and the government... and without the IMF, it’s just not going to happen.

We could have handled this ourselves, but clearly, we haven't done a damn thing. The finger-pointing just keeps going, while the national debt is pushing toward 100% and the economy is basically in freefall...

Our interest payments are way higher than Greece's, and our debt maturity is shorter too. Right now, we're essentially the riskiest country in the EU—aside from Greece—that isn't even properly accessing the markets.

With zero percent growth, interest rates are going to slowly start drowning us... and once the Fed hikes them up, the tidal wave is coming.

Slashing the size of the state is only one piece of the puzzle; we need to fix the entire tax system and everything else...

Up until now, they usually cut a little bit from everyone so that, in the end, the public sector still ends up with way more than those who actually create value.
So, the IMF might actually break that cycle: by cutting everyone equally just so we maintain the same proportional size of the public sector.
And that means cutting everyone's wages in the government by 10%, rather than hitting the public sector with a 30% cut.

Jeffrey Jackson9 said:Oh, so Germans produce things!!!
So Germans work!!!!
What's so bad about that!!!!
That's exactly why they can "dump" whatever they make onto anyone else!!!
And what exactly are we producing!?!?

The company I work for makes grinders and drills for Germans: http://www.taff-shop.com/media/catal...1001000000.jpg
They handed us a measly $10,000 for our 80% share of the job—only to watch them flip it later for $40,000. I guess they really know how to leverage their "brand name" and that tiny 20% stake in the product to squeeze out a massive profit. It's almost impressive, in a cynical sort of way.
And get this—the machine actually says Made in Germany on it. Not this little label here, though: http://www.goedicke.com/fileadmin/us...ke/7-34303.jpg

Meanwhile, the buyer is walking around all proud, bragging about how he owns a high-quality German drill. 😁

Benjamin Taylor6 said:I am completely ready:
I've got a 3-meter plastic paddle for rowing and a 500-meter net for casting in the shallows. Plus, I have a 200-meter permit the government handed me for free. I'll sell my grandmother's house, renovate my father's old shack—which, mind you, doesn't even have clean titles—and slap some solar panels on the roof. That way, there's no property tax, and no bills for electricity or water (just a water truck).
All I need to do is buy five goats and a billy goat, and the crisis is solved. I have a few acres of scrubland at my disposal. Naturally, I'll also be following in my ancestors' footsteps.
The rest of the money goes to the kids so they can find it easier to settle outside the US. (They already have degrees, so they might as well enroll in advanced English, German, or French courses).

Jokes aside. The IMF isn't going to hit me too hard because I work for a private firm where I just pull in a raw salary. Personally, I'm all for the IMF.

Up until now, they usually cut a little bit from everyone so that, in the end, the public sector still ends up with way more than those who actually create value.
So, the IMF might actually break that cycle: by cutting everyone equally just so we maintain the same proportional size of the public sector.
And that means cutting everyone's wages in the government by 10%, rather than hitting the public sector with a 30% cut.

The company I work for makes grinders and drills for Germans: http://www.taff-shop.com/media/catal...1001000000.jpg
They handed us a measly $10,000 for our 80% share of the job—only to watch them flip it later for $40,000. I guess they really know how to leverage their "brand name" and that tiny 20% stake in the product to squeeze out a massive profit. It's almost impressive, in a cynical sort of way.
And get this—the machine actually says Made in Germany on it. Not this little label here, though: http://www.goedicke.com/fileadmin/us...ke/7-34303.jpg

Meanwhile, the buyer is walking around all proud, bragging about how he owns a high-quality German drill. 😁

You gave me an idea. And regarding those solar panels—if I'm not mistaken, that opens up another whole story involving EU grants. Anyway, lucky you; you and your family won't be among the "sunken" ones.

Benjamin Taylor6 said:I am completely ready:
I've got a 3-meter plastic paddle for rowing and a 500-meter net for casting in the shallows. Plus, I have a 200-meter permit the government handed me for free. I'll sell my grandmother's house, renovate my father's old shack—which, mind you, doesn't even have clean titles—and slap some solar panels on the roof. That way, there's no property tax, and no bills for electricity or water (just a water truck).
All I need to do is buy five goats and a billy goat, and the crisis is solved. I have a few acres of scrubland at my disposal. Naturally, I'll also be following in my ancestors' footsteps.
The rest of the money goes to the kids so they can find it easier to settle outside the US. (They already have degrees, so they might as well enroll in advanced English, German, or French courses).

Jokes aside. The IMF isn't going to hit me too hard because I work for a private firm where I just pull in a raw salary. Personally, I'm all for the IMF.

Up until now, they usually cut a little bit from everyone so that, in the end, the public sector still ends up with way more than those who actually create value.
So, the IMF might actually break that cycle: by cutting everyone equally just so we maintain the same proportional size of the public sector.
And that means cutting everyone's wages in the government by 10%, rather than hitting the public sector with a 30% cut.

The company I work for makes grinders and drills for Germans: http://www.taff-shop.com/media/catal...1001000000.jpg
They handed us a measly $10,000 for our 80% share of the job—only to watch them flip it later for $40,000. I guess they really know how to leverage their "brand name" and that tiny 20% stake in the product to squeeze out a massive profit. It's almost impressive, in a cynical sort of way.
And get this—the machine actually says Made in Germany on it. Not this little label here, though: http://www.goedicke.com/fileadmin/us...ke/7-34303.jpg

Meanwhile, the buyer is walking around all proud, bragging about how he owns a high-quality German drill. 😁

I was at your old firm twenty days ago—the one that got stolen from you, SAS Vector, Cop.
It’s pure misery; the plant is empty and there’s just one worker left rattling things around for himself. Is your part of SAS just as hollow?
And honestly, I feel for your old director and what he's dealing with after the good old days. The man behind the local economic miracle is losing an apartment worth $1.2 million.
Per the Zadar Municipal Court Enforcement Department, a two-story home with a yard totaling 7,200 square feet is hitting its first public auction on June 12th. It belongs to the well-known local businessman Stanislav Antić. Antić founded the SAS factory, which once drove the entire regional economy. By exporting specialized machinery—mostly to the former USSR—he funded the Pediatrics Department at Zadar General Hospital, the California marina, the SAS Vector shipyard, and even the current headquarters for OTP Bank. Antić also served two terms as a city councilman and led an independent ticket in the previous local elections.

ruggedgull36 said:Yeah, because we need some brutal cuts to the public sector and the government... and without the IMF, it’s just not going to happen.

We could have handled this ourselves, but clearly, we haven't done a damn thing. The finger-pointing just keeps going, while the national debt is pushing toward 100% and the economy is basically in freefall...

Our interest payments are way higher than Greece's, and our debt maturity is shorter too. Right now, we're essentially the riskiest country in the EU—aside from Greece—that isn't even properly accessing the markets.

With zero percent growth, interest rates are going to slowly start drowning us... and once the Fed hikes them up, the tidal wave is coming.

Slashing the size of the state is only one piece of the puzzle; we need to fix the entire tax system and everything else...

And all of that would be fine, except... there's a massive "except."
When you realize that almost every country in the world—including America—is essentially screwed regarding their debt levels, with no intention of ever paying it back, and they've all enriched themselves by selling products to now-impoverished markets just like Germany does, you really have to ask: who is actually playing whom?
Besides, why even bother paying off the debt? Why doesn't the ECB just fire up the printing presses, print whatever amount is necessary, and clear the debts for every nation? That seems to be what they do constantly anyway.
We should just commit fully to the Euro if we're part of the European Union; if we aren't, then what's the point of being in the EU at all?