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Old 10-03-2012, 02:36 PM   #61
ErikLensherr
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They should invest in the gyro industry. There's real potential for growth there.
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Old 10-03-2012, 02:37 PM   #62
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Originally Posted by Ur all $h1t
What would you have them do? Do you have a better idea of shovel ready projects that will attract huge private sector investment to match government investment and employ people with skills in a sector that is currently moribund? Or would you prefer that those people stay on welfare, slowly lose their skills and employability and cost the state 30 million anyway in welfare payments and eventual retraining?


People seem to think that if your country is in debt you should take money and... erm...

Wait, what the hell do people think they should be doing with the money? Creating jobs and drawing in business is the only possible option, and one of the most followed sports across the planet is surely one of the greatest ways to do that?

People baffles me.
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Old 10-03-2012, 02:37 PM   #63
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OPA!!!

Ena lepto, poso kostizi afto?

gamoti poutana sou!
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Old 10-03-2012, 02:45 PM   #64
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Who the hell is making all these decisions for Greece?

"Mr. Thadaponoukosoropodos, I believe that a investment in this racetrack will do much to recover our country from the economic crisis we are currently experiencing."
"Why, Mr. Porousunpakosoumonous, I believe I am inclined to believe you! Good show!"

those are some piss-poor attempts at making fun of greek names.. i mean, not even one L! demon wolf on the other hand
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Old 10-03-2012, 02:49 PM   #65
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Lol at Keynesian spending in racetracks of all things.
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Old 10-03-2012, 02:51 PM   #66
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Lol at Keynesian spending in racetracks of all things.

Better than Keynesian spending on the military.
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Old 10-03-2012, 02:52 PM   #67
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Better than Keynesian spending on the military.

What Greek military?

Just joking
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Old 10-03-2012, 03:14 PM   #68
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What Greek military?

Just joking

Spending on the Greek military would boost jobs in the 'making shoes with pom-poms on' industry, which employs at least 3 people worldwide.
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Old 10-03-2012, 03:31 PM   #69
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Originally Posted by ErikLensherr
They should invest in the gyro industry. There's real potential for growth there.


Truest statement in this thread.
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Old 10-03-2012, 03:32 PM   #70
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Originally Posted by Ur all $h1t
What would you have them do? Do you have a better idea of shovel ready projects that will attract huge private sector investment to match government investment and employ people with skills in a sector that is currently moribund? Or would you prefer that those people stay on welfare, slowly lose their skills and employability and cost the state 30 million anyway in welfare payments and eventual retraining?


I would rather see them doing something to actually attempt to rebuild the economy rather than invest it into a sports stadium. The problem I see with the racing track idea is that while it will put people back to work (construction jobs, vendors, etc.), it also relies a lot on people being able to spend money (gambling, buying merchandise, etc.). I just don't see something like this working out.

As far as what I would have them do, I dunno. My suggestion would be to use the money as a stimulus thing to help out local businesses in need, and to train people to be able to get into other necessary jobs. Of course that's probably not the best idea, but I can see it being a bit better than the race track (for the reasons that I've mentioned above).
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Old 10-03-2012, 03:49 PM   #71
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There's too many good circuits in Europe already for new ones to make their way into the calendar. Valencia is only 5 years old and its already going to be forced to alternate every year with Catalunya starting in 2013.
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Old 10-03-2012, 05:01 PM   #72
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Originally Posted by IRISH_PUNK13
I would rather see them doing something to actually attempt to rebuild the economy rather than invest it into a sports stadium. The problem I see with the racing track idea is that while it will put people back to work (construction jobs, vendors, etc.), it also relies a lot on people being able to spend money (gambling, buying merchandise, etc.). I just don't see something like this working out..

The construction jobs don't require anyone to spend anything.
I would rather see other projects too, but other projects won't attract 2 private sector euros for every public sector one spent.

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As far as what I would have them do, I dunno. My suggestion would be to use the money as a stimulus thing to help out local businesses in need, and to train people to be able to get into other necessary jobs. Of course that's probably not the best idea, but I can see it being a bit better than the race track (for the reasons that I've mentioned above).

Except this way they get 100 million euros worth of construction for a 30 million euro investment. Obvious win. Training will not attract that kind of private sector contribution.
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Old 10-03-2012, 05:06 PM   #73
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Originally Posted by Ur all $h1t
Except this way they get 100 million euros worth of construction for a 30 million euro investment. Obvious win. Training will not attract that kind of private sector contribution.

Is it an obvious win? Why is there a shortfall in investment? Maybe other investors do not see this as a productive project (no substantial return on their investment). Maybe this is $30 M of tax payers' money that will end up creating unproductive jobs and will go bankrupt.
Point is, only time will tell and I am really not so sure that this is a good investment with tax payers' money.
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Old 10-03-2012, 05:19 PM   #74
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Originally Posted by Ur all $h1t
The construction jobs don't require anyone to spend anything.
I would rather see other projects too, but other projects won't attract 2 private sector euros for every public sector one spent.


Except this way they get 100 million euros worth of construction for a 30 million euro investment. Obvious win. Training will not attract that kind of private sector contribution.


I know that. If I somehow implied that it does then it was just poor wording on my part. But wouldn't that still not be very good for the people of Greece since they aren't being put back to work (except for the jobs that I've mentioned, and others that would go along with those)?

Yeah, 100 million on construction for something that doesn't seem like it will be very helpful since there will still be a **** ton of people out of work. Also, wouldn't training people for various fields be better? The reason I ask is that I recall reading that Greece (may have been Spain, but I may not be remembering correctly) has an issue with most of their working class being part of the older generation.
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Old 10-03-2012, 05:19 PM   #75
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Of course there will still be a load of people out of work, this isn't supposed to be a miracle cure, nothing will be.
Greece's problem is 55% youth unemployment, that's a burning problem, literally; those kids throw molotovs.


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Originally Posted by Tastytaco
Is it an obvious win? Why is there a shortfall in investment? Maybe other investors do not see this as a productive project (no substantial return on their investment). Maybe this is $30 M of tax payers' money that will end up creating unproductive jobs and will go bankrupt.
Point is, only time will tell and I am really not so sure that this is a good investment with tax payers' money.

The benefit from the construction alone should easily cover the government's investment.
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Old 10-03-2012, 05:22 PM   #76
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That's a brilliant idea actually. Adds revenue, jobs, brings in tourists, etc.
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Old 10-03-2012, 05:31 PM   #77
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That's a brilliant idea actually. Adds revenue, jobs, brings in tourists, etc.

It's not guaranteed to do any of those things, once built, though. Europe is hoaching with F1 GP quality tracks, and there are only so many races in the season.
I mean, there are worse things to spend the money on, but there's no reason to assume there's suddenly going to be an annual Greek GP.
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Old 10-03-2012, 05:35 PM   #78
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That's a brilliant idea actually. Adds revenue, jobs, brings in tourists, etc.

I believe that this is a fallacy. Revenue isn't added, it is redistributed, from tax payers to the people involved in the project, and no doubt bureaucrats get a small piece of that too.
Yes, in the short term the stimulus will add jobs. But are they productive jobs? Do those jobs create goods and services that people want? Seeing as there was a shortfall in investment, is it wise to invest in a project that professional investors did not see as productive (profitable)?
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Old 10-03-2012, 06:14 PM   #79
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Its essentially putting 30 million euro into a slot machine. Theres zero guarantee for a start that they will even get a Formula One race.

The going rate to host one is roughly $50 million at moment. What happens if the private firm cant generate that cash?

Or the event doesnt make enough money to cover the costs? And the circuit goes bankrupt etc?

Its a misguided attempt by the Greek State to go "look we are making jobs!!!".
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Old 10-03-2012, 06:15 PM   #80
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This is the best idea I've heard come out of this country for many years.
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