Tuesday, June 30, 2015

The Pathetic Crowdfunding Effort to Save Greece

Indiegogo was offline for a while today, having crashed after so many people flocked to the crowdfunding campaign for Greece.


The sad part of this"joke campaign" is that some people will truly think the campaign (which would benefit IMF, not Greece) is a good idea in the first place. A humanitarian effort to help the Greek people directly would be highly appropriate. But an effort to raise money to pay the International Monetary Fund? That's insane. The satirical intent is actually quite sad, and the campaign distracts people from the true upcoming need for humanitarian relief.

The other sad thing is that people apparently can't do basic math any more. For anyone who's lulled into thinking this campaign is serious: It should be obvious that you can't possibly reach a goal of €1.6 billion. When the Indiegogo site went down, it had been taking pledges at a rate of over a thousand Euros a minute (which is not terribly high, as these things go). To reach its goal in the time allotted (7 more days), the campaign would have to take in €158000 a minute.

At €1000 a minute, the Save Greece campaign would need more than three years to reach its goal!

As I write this (2:15 pm Eastern US, Tuesday 30 June), the Greece Bailout crowdfunding campaign has reached €251,121 in pledges. Which means the campaign is 0.016% of the way to its goal. Not 1.6%, but 0.016%.

To reach a €1.6 billion goal (the current campaign's goal), you'd need 16 million contributors of €100 each. That's not going to happen.

Nor should it happen. Paying the extortion demands of IMF is not the same as helping Greece. Ordinary citizens around the Eurozone will be helping bail out Greece soon enough, through normal default mechanisms, when Germany, France, Spain, Italy, and other holders of Greek bonds find those bonds worthless.

So as an exercise in showing how big the debt numbers are, yes, this is a pretty good way of showing it. Insert polite golf clap here for the inventor of the campaign.

A deal could still be (and likely will be) reached to avert all-out default in the days ahead, but for now, the best thing you can do for Greece is pray; and if a catastrophe happens, donate to international relief agencies.


9 comments:

  1. This comment has been removed by a blog administrator.

    ReplyDelete
    Replies
    1. This comment has been removed by the author.

      Delete
  2. Precisely test your Internet association speed with this incredible broadband speed test. Improve your transfer speed with reality.
    testmy.net speed test
    testmy.net
    https://earnigo.com/tech/testmy-net-speed-test- review/

    ReplyDelete

  3. شركة نقل عفش
    اهم شركات مكافحة حشرات بالخبر كذلك معرض اهم شركة مكافحة حشرات بالدمام والخبر والجبيل والخبر والاحساء والقطيف كذلك شركة رش حشرات بالدمام ومكافحة الحشرات بالخبر
    شركة مكافحة حشرات بالدمام
    شركة تنظيف خزانات بجدة الجوهرة من افضل شركات تنظيف الخزانات بجدة حيث ان تنظيف خزانات بجدة يحتاج الى مهارة فى كيفية غسيل وتنظيف الخزانات الكبيرة والصغيرة بجدة على ايدى متخصصين فى تنظيف الخزانات بجدة
    شركة تنظيف خزانات بجدة
    شركة كشف تسربات المياه بالدمام
    شركة نقل عفش واثاث

    ReplyDelete

  4. شركة سكاي لخدمات نقل العفش والاثاث بالمنطقة العربية السعودية نحن نوفر خدمات نقل اثاث بالرياض ونقل عفش بالمدينة المنورة ونقل عفش بمكة ونقل عفش بالطائف نحن نقدم افضل نقل اثاث بخميس مشيط ونقل عفش بجدة
    شركة سكاي نقل العفش
    مدونة لنقل العفش
    شركة نقل عفش بمكة
    شركة نقل عفش بالرياض
    شركة نقل عفش بالمدينة المنورة
    شركة نقل عفش بجدة
    شركة نقل عفش بالطائف
    شركة نقل عفش بالدمام

    ReplyDelete
  5. Hello Everyone !

    USA SSN Leads/Dead Fullz available, along with Driving License/ID Number with good connectivity.

    All SSN's are Tested & Verified.

    **DETAILS IN LEADS/FULLZ**

    ->FULL NAME
    ->SSN
    ->DATE OF BIRTH
    ->DRIVING LICENSE NUMBER
    ->ADDRESS WITH ZIP
    ->PHONE NUMBER, EMAIL
    ->EMPLOYEE DETAILS

    *Price for SSN lead $2
    *You can ask for sample before any deal
    *If you buy in bulk, will give you discount
    *Sampling is just for serious buyers

    ->Hope for the long term business
    ->You can buy for your specific states too

    **Contact 24/7**

    Whatsapp > +923172721122

    Email > leads.sellers1212@gmail.com

    Telegram > @leadsupplier

    ICQ > 752822040

    ReplyDelete
  6. This is what I get on that page, Nice Post and Appreciated your support. Thank you so much for sharing such a detailed information. We are proud that clients hold against using our moving company.
    Furniture Movers and packers like www.servicebasketuae.com/movers-and-packers-in-dubai.html make their best handling to secure the goods from all the possible effects.
    https://www.allieddubaimovers.com/
    Professional furniture Moving and packing service Sharjah, at reasonable price. https://www.allieddubaimovers.com/movers-and-packers-in-sharjah/
    www.allieddubaimovers.com/movers-and-packers-in-abu-dhabi/

    ReplyDelete

Add a comment. Registration required because trolls.