Greek Delight

The rains came today, but not before I caught this.

"The world is unfolding as it should". I do not who said this, but the phrase is familiar. It should read 'unravelling'. Do you feel the heaviness and sense of gloom in the world? Or do you bury your head in distractions because you do not want to hear the 'bad news'? The story of the Greek bailout is supposed to be good news, but I believe that ordinary people are finally catching on to what is going on here. There is a great uneasiness in Europe these days as the wealthy nations of France and Germany took a 50% hit on Greek bonds and every other Euro backed nation borrowed more money to prop up the failing Greek economy. What we are all catching on to is that you cannot solve a debt problem with more debt.

Think about it. You are maxed out on your credit, your bills are piling up, and your car is about to get re-possessed. How do you solve the problem? You go out and borrow more money. Well, actually, you would not be able to. But, if you are a nation, you can. Your citizens will pay it back and if they cannot, their children and their children's children will. Or......you go bankrupt and start over again. You see, the problem is quite simple. The reason the people in leadership do not 'get it' is because they are, for the most part, very wealthy people who have never had to run a small business or a household budget. Money is never in short supply and if you are in trouble you just call your accountant and then your lawyer. They sell a few assets, juggle the books, make a few phone calls, and the problem goes away.

Only this time it will not go away. Greek default is INEVITABLE. It is only being delayed and when it happens it will take other nations with it, Italy being the first.

Pensioners in Greece took a 20% reduction in their  pension cheques last month. This month another 20%. Do think the riots are around the corner? And that tends to make my Christian world view kick in. More tomorrow.