Tuesday, October 4, 2011

Greek Tragedy

We are about to witness the most unpleasant Greek tragedy of all time.

The country of Greece is going to default on its debt.
Years and years of irresponsible Socialist leadership kept voting higher and higher benefits for people who did not work. Eventually, the math doesn't work anymore.
There are more people drawing out benefits than putting money into the system.
The system teeters on the brink...then collapses.

Greece is on the brink.
Saving them now only encourages more irresponsibility.
Better to let them collapse and start over.
Pensions, benefits...all of it nullified and voided.

The Greeks can start over with the drachma, a currency that will be nearly worthless at the start and will probably get worse from there.

The Germans and the French will probably dissolve the Euro and the European union may collapse. This may start a run on the banks and a total collapse of the worldwide economy.

Greece is a perfect example of why you do not let a government have too much power over its citizens. Bad things happen.

It's a lesson that we Americans are not too far off from learning ourselves.