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From: Bill Sloman on 1 May 2010 11:42
On May 1, 12:55 am, Michael <mrdarr...(a)gmail.com> wrote:
> On Apr 30, 10:19 am, "TheM" <DontNeedS...(a)test.com> wrote:
>
> > >"Bill Sloman" <bill.slo...(a)ieee.org> wrote in message news:dced8906-2048-406f-aeca-
> > >In case you hadn't noticed, Spain's current problems come from it
> > >being a tourist destination.
>
> > >After the US banking system wrecked the world economy, the tourists
> > >opted for cheaper holidays closer to home, and the Spanish service
> > >industry didn't have anything like the number of tourists to look
> > >after.
>
> > I'd say it was mostly construction/housebuilding. Big crash there. It was the main source of their growth for years.
> > Of course having Euro is preventing these troubled countries from doing what the US does, print money.
>
> > M
>
> Really?  Your Central Bank doesn't print money?  Are you tied to a
> gold standard of some sort?  (Does anyone do, anymore?)

The euro is tied to Germany's economy, which is large, exports a lot
and has a substantial positive trade balance. The Germans don't see
any advantage in devalueing the euro, which is why they have finally
agreed to prop up the Greek economy ...

--
Bill Sloman, Nijmegen

From: JosephKK on 1 May 2010 13:37
On Thu, 29 Apr 2010 21:32:09 -0700 (PDT), dagmargoodboat(a)yahoo.com wrote:

>On Apr 29, 10:16 pm, John Larkin
><jjlar...(a)highNOTlandTHIStechnologyPART.com> wrote:
>> On Thu, 29 Apr 2010 19:57:05 -0700 (PDT), dagmargoodb...(a)yahoo.com
>> wrote:
>>
>> >On Apr 28, 11:00 am, John Larkin
>> ><jjlar...(a)highNOTlandTHIStechnologyPART.com> wrote:
>> >>http://apnews.myway.com/article/20100428/D9FC0ES80.html
>>
>> >> Europe has an interesting dynamic. Multiple countries share a
>> >> currency. So if one country, especially a small one, decides to spend
>> >> more than they have, the other, presumably more prudent countries,
>> >> wind up paying for it.
>>
>> >> In a single country with a single currency like the US, if we spend
>> >> more than we have, we'll print money to cover it, and everybody in all
>> >> the 50 states shares in the resulting inflation.
>>
>> >I wrote a couple weeks ago that Bernanke swears he absolutely will not
>> >monetize (print money to pay) the debt.
>>
>> Well, somebody sure will.
>>
>> John
>
>Good point--the Mint's under Treasury, so Geithner will print it.
>
>James

I wonder if mechanical presses would be able to keep up. Most "money
creation" is now done by computer. It would really annoy me to abruptly
have my pocket change have actual metallic value again.
From: Michael A. Terrell on 1 May 2010 17:40

JosephKK wrote:
>
> California would be a G8 nation in its own right. Only now, extracting
> it from the US would nearly knock the US out of #1.


On the bright side, they would have to keep Dimbulb and he would
never be allowed back into the US.


--
Anyone wanting to run for any political office in the US should have to
have a DD214, and a honorable discharge.
From: Robert Latest on 3 May 2010 14:46
Bill Sloman wrote:
> The United states of America has a similar system - each of the 51
> states share a common currency, the US dollar.

I don't understand much about economics, but I recall hearing something
that made sense to me. Some economist said that a common currency only
has a benefit if the people (workers) are sufficiently mobile within
that currency area. Clearly the Europeans are a lot less mobile within
Europe due to language and cultural barriers than people within the USA.

robert
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