[Info-vax] HP stopping VMS paper documentation ?

[AEF]

On Nov 29, 5:08 pm, JF Mezei <jfmezei.spam... at vaxination.ca> wrote:
> Phillip Helbig---undress to reply wrote:
>
> > Whatever one thinks of the current problems, or of the Euro, the Euro is
> > hardly the cause of the problems, rather it is being affected by the
> > problems in Greece and elsewhere.  Most of this is probably
> > psychological, though (as are most of the ups and downs of various
> > markets), considering that the population, GNP, whatever of Greece is
> > just a small fraction of the Eurozone.
>
> The problem is that the Eurozone accepted countries that didn't belong,
> and the European parliament doesn't have the guts to punish countries
> that have not met the 3% deficit ratios (or whatever standard they had
> set), mostly because even France failed to meet them.
>
> In fact today, it might be better to take out Germany and France from
> the euro, and let the remaining countries devalue the euro to match
> their weakened economic activity.

Well, I think the problem is that punishing the bad countries has big
ramifications for the others. As Ben Bernanke put it on "60 Minutes":
[I'm paraphrasing from memory.] A house is on fire. Hey, it's that
guy's fault for blah blah blah reason. Let him suffer the consequences
of his foolhardiness. But it's next to other houses, which could then
catch fire as a result. So the first thing you have to do is put out
the fire, regardless of blame.

Well, that's how he put it, FWIW.

Actually, Lehman Brothers was punished and that produced a worldwide
credit crisis. Even worse, it wiped out one of my desks! This was the
Repos desk, supported by MicroVAX 31xx systems. The brokers on this
desk were having a grand old time before the credit crisis. Now the
brokers are gone, the desk is kaput, and the VAXes sit idle.

So this may also be the case if you punish the bad countries. The
reason is that no one lives in a vacuum. Everything economic is
intermingled throughout the world. So a problem here causes a problem
there.

What happens there, doesn't stay just there.

AEF