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Daniel Tobias
Lives in New York
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Daniel Tobias

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Thoughts on Europe:

Create European standards for social programs that at least 2/3 of European countries approve of. Fund those programs with European taxes and Euro bonds. If a country wants to provide additional social support for their citizens, they can fund it themselves with their own taxes and bonds. But country-specific bonds aren't guaranteed by the rest of Europe. In fact, it needs to be illegal to bailout a country. This needs to be explicitly clear and iron clad. It's important that investors believe their investment is at risk so that they demand an appropriate interest rate. This way, if a country is reckless with their finances, investors will demand a higher interest rate. The discipline imposed by high interest rates is automatically enforced. Government has no choice but to cut spending and/or raise taxes when investors stop lending. Hopefully the fear of this automatic austerity prevents reckless spending.

If a country does find itself in a situation where investors refuse to lend, or demand rates that are unpayable, and government is forced to cut spending and/or raise taxes, at least there is some social support provided by Europe that should prevent a humanitarian crises.

The key, again, is that investors believe their investment is at risk (these bailouts aren't helping). That means it is illegal to bailout countries, and a country can declare bankruptcy and restructure their debts in bankruptcy court, without being forced to leave the Euro.
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Daniel Tobias

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Three years later...
 
Predictions:

Greece leaves euro.
Markets free fall.
Greece pegs new currency to euro and slowly depreciates it.
Germany agrees to euro bonds and closer integration, asap.
Markets recover.
World goes on.

Only sure about the last two. 
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Another photosphere from Deal lake
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Daniel Tobias

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Photosphere from frozen Deal lake 
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Joseph Tobias, Doctor of Physical Therapy in Brooklyn, NY.
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Have him in circles
177 people
Benjamin K's profile photo
Moey Hidary's profile photo
Michael Grazi's profile photo
Mohd Saiful's profile photo
Tom Lop's profile photo
Joey Sassoon's profile photo
Nathan Mamiye's profile photo
henry baptiste's profile photo
Sarah M. Lasry's profile photo
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New York
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Deal, New Jersey
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