Well…I know that economics are not a topic that most people will voluntarily read but there is an interesting thing going on in
Europe with the Greek debt “crisis”….and it is the hypocrisy that the Germans are showing in regard to Greece’s debt… as we all know now, austerity does not grow economies and usually hurts them worse when they are in a recession, but that is exactly what the Germans want for Greece…more austerity so they can pay back their debt…but to see the hypocrisy of this action, you only need to look at what happened to Germany in the 50′s, when they were swimming in debt. At that time, economists actually used facts to set policy….not ideology as is being done now. Back then, economists looked at the debt situation that faced Germany and realized that they would destroy their economy if they would have to pay back their massive debt they incurred rebuilding the country…so what did the world do? They basically wiped out the debt that Germany owed and allowed them to become the economic power they are today….so what would be wrong with doing the same thing for Greece? Many, many countries have had their debt forgiven across the years and not one time did it cause a meltdown in the world economy…in fact there was usually some benefits in the removal of the constant crisis and restoration of confidence in the future. That’s what should be done with Greece right now…wipe out their debt and give them a chance to get back to normalcy….geez…