Monday, July 06, 2015

Cheering The Descent to Poverty -- Greece

These 7 Yanis Varoufakis Quotes Show Why We’ll Miss Him | TIME:

The quotes are kind of enjoyable -- as is the whole spectacle of Greece and the rest of the Western World slowly discovering the truths in simple nursery rhymes like "The Ant and the Grasshopper" and "The Emperor's New Clothes" or aphorisms like "Sooner or later you run out of other people's money" is at least comforting in that the world still works as we know it does.

Naturally, those on the left do not believe in the surly bonds of reality -- here is a link to the debt crisis explained in less than 100 words... but it really takes less than that.
  1. Greece has a nice socialist economy -- lots of aid to poor-middle class, lots of cushy high paid government jobs, tough on business and wealth. 
  2. Business and wealth flee the country -- and what doesn't hunkers down. 
  3. Financial crises comes (2008) ... income dries up even more, more people in trouble -- need loans and "bailouts". 
  4. Creditors demand change -- less government spending, higher broader based taxes. 
  5. Anger, denial, the vote this past weekend. 
  6. Poverty 
It's a very old story in many forms from individuals, businesses and governments. Living high on the hog on credit is good until the bills come due.

They always come due.

'via Blog this'

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