A Euro-Financial Elephant That Denies Reality In Greek!

GreeceNewsfolk are helping politicians ignore Greek attempts to continue living off Germany et al rather than support itself at the modest lever it will face with the arrival of reality.

The Eurofolk do not wish Greece to bolt the Euro as Britain is looking in that direction; a stampede is unwanted. Nor can they afford continued support for Greece. Damn decisions!

It matters not; the Greeks are done. They will soon face living on their own resources; a scary prospect. The elephant in this room is a herd; most of Europe, most of Latin America, most of Asia and Russia and the United States are gaily painted hollow shells too. It’s a debtor’s party of erstwhile wastrels who have been unable to govern themselves. A veritable “Masque of the Red Ink Death” among a batch of now suddenly truly po’ folk.

No matter you call something “Socialism” or “Communism” or “Welfareism” or “Peronism” or whatever Venezuela names its present collapse; human government cannot enrichen citizens via confiscation and controls. Never have, never will. But likely, will never stop trying. For every such try, the bills come due. Ours are arriving, now.

Watch Greece now, never mind FIFA, (They’re all corrupt: too much money!) ISIS (which is becoming corrupt now, too.) or The Jenner.

About Jack Curtis

Suspicious of government, doubtful of economics, fond of figure skating (but the off-ice part, not so much) Couple of degrees in government, a few medals in figure skating; just reading and suspicion for economics ...
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2 Responses to A Euro-Financial Elephant That Denies Reality In Greek!

  1. michael Curtis says:

    I generally agree with most of what you say, and the few times I don’t it is usually semantics. But I think there is one point that is left out of your discourse that matters. While Greece is sunk and notably a leech on Europe and especially Germany. The USA is different. The US debt is around 18 trillion dollars, in itself that sounds like funny money, as you point out a hollow shell. However what you don’t point out that is significant to me is WHO is owed the money, unlike Greece that is bought and paid for by at least Germany, the US is owned by US citizens. More than 75 percent of that debt is to the US itself. I think that shell might not be as hollow as it looks understanding who owns it. I still admit that there were no adults in the room when that debt was legislated.

    • Jack Curtis says:

      True! An argument by the spenders has been that we need not worry overmuch since we owe it to ourselves. But that seems to me a little glib.

      Every lender not repaid must suffer loss. What wealth will remain useful to Americans after they have written off whatever of our debt ends defaulted? And how well off will be those who are in fact repaid, but with inflated dollars?

      And as all that works its way through a depleted economic system and a perhaps unstable social one, what mechanisms will keep the general economy functional and productive?

      There are getting to be too many balls in the air for ready prognosticating!

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