"Bondholders" (or whoever) using iPads to "restructure" (ie. simply extend more junk loans never to be paid back) Greek debt is like chimpanzees using sticks to poke at holes.
Europe is falling apart, the UK is degenerating, youth unemployment now exceeds 50%!!! in both Spain and Greece as the number of people out of work in the eurozone as a whole hit a 15-year high of 17.2m*, Greece still hasn't decided who should run the country after months/years of elections and negotiations, the next election which may or may not have conclusive results is sometime in June, their total debt is ~€350 billion and shooting up**, almost 200% Debt-to-GDP, all money with no hope in sight of ever being paid back... But at least we're going to save them with iPads, right?
While iPad of course has great potential, the fact that 100 iPads can reduce 150 billion euros of debt has to make you think about our ludicrous financial system.
And of course, if your deadbeat friend owes you $300, you telling him, it's okay, I've "restructured" it to only $150 you owe me, is meaningless, because you're never going to get even $50 back from him! Moreover, using your iPad to iMessage your deadbeat friend that you've "reduced" his debt to $150 doesn't make the situation any better, does it?
Comments
"Bondholders" (or whoever) using iPads to "restructure" (ie. simply extend more junk loans never to be paid back) Greek debt is like chimpanzees using sticks to poke at holes.
Europe is falling apart, the UK is degenerating, youth unemployment now exceeds 50%!!! in both Spain and Greece as the number of people out of work in the eurozone as a whole hit a 15-year high of 17.2m*, Greece still hasn't decided who should run the country after months/years of elections and negotiations, the next election which may or may not have conclusive results is sometime in June, their total debt is ~€350 billion and shooting up**, almost 200% Debt-to-GDP, all money with no hope in sight of ever being paid back... But at least we're going to save them with iPads, right?
While iPad of course has great potential, the fact that 100 iPads can reduce 150 billion euros of debt has to make you think about our ludicrous financial system.
And of course, if your deadbeat friend owes you $300, you telling him, it's okay, I've "restructured" it to only $150 you owe me, is meaningless, because you're never going to get even $50 back from him! Moreover, using your iPad to iMessage your deadbeat friend that you've "reduced" his debt to $150 doesn't make the situation any better, does it?
*http://www.telegraph.co.uk/finance/financialcrisis/9181776/Youth-unemployment-passes-50pc-in-Spain-and-Greece.html
**http://www.nationaldebtclocks.com/greece.htm
Hmmm, maybe the world is going bankrupt because we keep buying things we don't have the money for? Like...eh...iPads?