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…
Tag Archives: Greece
The first domino falls….
Well….I’m not sure if you’ve been following the events in Greece lately but I have an find them to be really, really interesting. what has happened in the election held over the weekend is that the conservative government has been thrown out to be replaced by a progressive one that has promised a wholesale change in how the country is run, starting with reversing the austerity that was forced on them by the EU and which is responsible for the Greek economy shrinking by more than 25% in the past year. But, the biggest target of this new administration is to get rid of the crony capitalism that has allowed the rich to not pay any taxes since before world war two and to operate to government for the benefit of all Greeks, not just those who have connections, money, or power. The people of Greece are just fed up with their 1% stealing everything and leaving nothing but crumbs for the rest of the country. Sound familiar? That’s why the title….if one country can make such a radical change, why can’t we? The same type of nonsense is happening here in the US with the rich taking all of the gains in the economy that have happened for the past 40 years and rigging the game so they will continue to take it all….I just hope that Greece was the first domino to fall to be followed by many more….the world needs to change…I just hope it happens in my lifetime….geez…