Train Wreck II

As I was writing yesterday's post regarding the Greek financial woes, a deal was being ironed out and it appears that there is a bail out taking place to rescue the beleaguered and indebted Greeks. And what is this? To help Greece pay off its debts, the other Euro nations are lending them borrowed dollars! This is exactly like paying off your maxed out credit card by getting another credit card and maxing it out too. Now the other nations owe money as well as the Greeks, but they already did anyways so what's a few more billion/trillion. Debt has to paid back, no matter who holds it or where it comes from. What they are doing is avoiding/postponing the inevitable. Also, setting a precedent like this will be no incentive for countries such as Portugal, Spain and Ireland to clean up their act. This is all happening because of the mistaken idea that one can build wealth with debt. Excuse my French, but that has always been a dumb-ass idea whether on a personal level or on an international level. These idiots are driving the world to ruin, but what do they care? They are all rich and old and soon to die. Like mucking up the environment, it will be up to future generations to clean up the mess.