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Spain's Bankia seeks 19bn-euro bailout from government by Hansamanin europe

[–]pedrosanta 2 points3 points ago

Change private debt, for public one. Do high-stakes trading and inflate a bubble, win big. Leave the bill for taxpayers to pay. Classic XXI neo-liberalism robbery.

Novas oportunidades... by Atirei23in portugal

[–]pedrosanta 0 points1 point ago

Claramente o desemprego é uma boa oportunidade para tirar férias.

Novas oportunidades... by Atirei23in portugal

[–]pedrosanta 0 points1 point ago

Falecer também pode ser uma boa oportunidade para descansar. And so on...

Ah a sapiência dos tristes...

Are black markets creating unreported jobs in Spain, Greece, Ireland, and Portugal? by executivemonkeyin europe

[–]pedrosanta 1 point2 points ago

Insighful informative comment, thanks. I didn't had a clear picture of these indicators/magnitude of the problem. This clearly has to lead to better efforts to prevent tax evasion. IMO, 25%of GDP is a fairly high number. (If you happen to have a trend/graph of this index, post it. I'm rather curious of the trend pre-crisis.)

Are black markets creating unreported jobs in Spain, Greece, Ireland, and Portugal? by executivemonkeyin europe

[–]pedrosanta 3 points4 points ago

From what I see daily, I do think that's a fairly rate of unemployment, unfortunately. For now those people are (still) surviving with the help of friends, family and a mix of social relationships network support and state social support. For the economy output and the country overall productivity it's a utter tragedy. I don't come across many tax evasion situations.

I do notice that somehow the labour market is more dynamic now (firing people now happens more frequently because of the economy and less labour protection), but on the other side there's a generalization of the precarious labour and the so called 'green receipts' that don't count as a work but as (loose) services payment (they can suspend the service/fire you really at anytime), don't establish a work contract, leaves the tax contribution to the 'colaborator'/employee (~25% from the pay), no vacations right, no extra vacations pay, teorically no schedule (but they can always threat to cut your service if you don't respect one), difficult and sometimes no access to entitlements (unemployment, sickness, etc).

Note: this mechanism was put forward several years ago to let employed people account some little/home/personal extra work they make or to the so called 'freelancers'. It was never intended to be used in a regular job, in the matter of fact is "illegal" in such conditions, but, since the very own State is the largest contractor under this terms and the people generally are afraid to lose even this precarious services payment/'wage', the practice became largely generalized.

There's a raging protest against this situation for years now, well before the finantial crisis, but the employers always enjoyed this kind of labour limbo. And, of course, as the economy worsens more and more people are 'accepting' these terms.

On the other hand the companies accounts/tax forms are heavily scrutinized (thanks to a huge effort on digitalizing the finance and tax ministry) in terms of where their money came and went so it's difficult to evade tax without a grand or shady scheme, off-shores, etc. I would bet that there's more tax evasion on a B2B level, like two companies declaring less raw material/services/etc trading between each other.

SpaceX successfully launched first commercial rocket by amstarcasanovain science

[–]pedrosanta 0 points1 point ago

(Going to put "Ali G Boo Ya!" here, but then read The Note. Became sad with the Internets instead.)

"How do you deal with a country that says we don’t want to keep any of the commitments we have made?” by Aschebescherin europe

[–]pedrosanta 1 point2 points ago

Poor title choice/highlight. Original title: "German Patience With Greece on the Euro Wears Thin".

Richard Koo Explains How In The End, It Really Is All Germany's Fault by lonoiin europe

[–]pedrosanta 1 point2 points ago

Crap article, click bait/sensationalist headline. :/ sigh

Debate: Do you think austerity is good for Europe? by Photismin europe

[–]pedrosanta -1 points0 points ago

Ok, point taken. I admit I may have been 'too quick on the trigger'. Thanks for your time to point that out. Anyway, unfortunate term IMO.

Debate: Do you think austerity is good for Europe? by Photismin europe

[–]pedrosanta 2 points3 points ago*

Two links: http://krugman.blogs.nytimes.com/2012/04/15/insane-in-spain http://www.nytimes.com/2012/04/16/opinion/krugman-europes-economic-suicide.html

I'm not against austerity - I'm pretty much in favor of balanced policies. My point is, austerity isn't always good.

Debate: Do you think austerity is good for Europe? by Photismin europe

[–]pedrosanta 0 points1 point ago*

No. "Club Med countries". Last time I checked, you can make a comment or a point without being unrespectful.

Debate: Do you think austerity is good for Europe? by Photismin europe

[–]pedrosanta 0 points1 point ago*

Seriously, no I don't. :) I only hate racism/xenophobia. Cheers.

Debate: Do you think austerity is good for Europe? by Photismin europe

[–]pedrosanta -3 points-2 points ago

New new universal law of the Interwebs: the amount of irrelevant bashing on other countries from arrogant Brit or American person X is directly proportional to the amount of shit that person X has on it's head.

Debate: Do you think austerity is good for Europe? by Photismin europe

[–]pedrosanta 0 points1 point ago

No problem, Camertem, I know. I was only teasing atheistmil. I didn't quite like how he placed the southern countries as 'Club Med countries'. Best wishes.

Debate: Do you think austerity is good for Europe? by Photismin europe

[–]pedrosanta 7 points8 points ago

One word to crumble that argument: Spain. (Was in better economic shape than Germany circa 2008 pre-crisis. Moreover, in Portugal we had austerity measures since 2002 in the governments of Barroso and Sócrates, it was only after the EU decided to bail-out the finance sector and banks that our debt ballooned - go figure.)

Moreover, economic theory, and even history, suggest that austerity on a already depressed economy makes it even worse.

Debate: Do you think austerity is good for Europe? by Photismin europe

[–]pedrosanta 4 points5 points ago

:/ Too bad, I think 'double dip' it's a term that goes well with the Tea Country. Biscuit?

Debate: Do you think austerity is good for Europe? by Photismin europe

[–]pedrosanta 5 points6 points ago*

Judging by the economic indicators it seems that 'Tea Country' isn't much better than the 'Club Med' countries. Good luck with that double dip depression.

EDIT: "Cameron’s Remarkable Achievement", http://krugman.blogs.nytimes.com/2012/04/25/camerons-remarkable-achievement

Debate: Do you think austerity is good for Europe? by Photismin europe

[–]pedrosanta 6 points7 points ago

Anyway, there's a strange trend on this story. The banks were bailed out a little bit across Europe - even now they are thinking about it in Spain - which translates to moving private sector debt/risk to public debt/risk, with all the problems that the governments face later in terms of treasury bond yields. Even though, and I admit it, several countries needed some adjustments to their economies, I think the story isn't quite as simple as it being told to us.

Does more labor mean more productivity? Apparently not. More capital means more productivity and less labor. by lekotarin europe

[–]pedrosanta 1 point2 points ago

Trudat as well. :) It's because you believe that after all that effort you can be finally lazy - if you still have spare time. But the engine, in fact, is our lazy nature.

Does more labor mean more productivity? Apparently not. More capital means more productivity and less labor. by lekotarin europe

[–]pedrosanta 1 point2 points ago

In all seriousness, and finantial crisis, cultures, discipline, etc. aside, I too have the same reasoning. You only move forward because of the increasing lazyness in satisfying your needs as immediately as possible. :) Lazyness makes the world go around. Nice proverb.

"REALITY is what makes the past immutable." - Linus by iwouldjumpthatin linux

[–]pedrosanta 6 points7 points ago*

It's because shit like this that I like Linus more and more. If you have time check out an talk on git and rant on CSM systems he gave at Google: http://www.youtube.com/watch?v=4XpnKHJAok8

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