Tuesday, July 14, 2015
How old will you the reader be in the year 2057?
Take the age you are now, add 42 to that number and ask yourself: Will you even be around?
The reason 2057 is important where Greece is concerned is that is the last year they would be repaying the debts they currently owe all their creditors, assuming they never ever have to borrow another penny..
If you had a choice between defaulting or going bankrupt which would wipe the slate clean but things would be dicey for a period, or entering a 42 year repayment plan where nearly 100% of your annual income goes to creditors, which option would you choose?
Personally we'd choose the default.
The Greek people wanted default.
Their lying, thieving government chose surrender of economic autonomy.
The airports, planes and all other government infrastructure not already privatized back in 2010 to keep this dead donkey of a nation still in the Eurozone will be taken over by the EU and other creditors..
And banks that once were under control of the Greek government will now be handed over to the European Commonwealth Bank.
By extension, foreign banks will now control Greek pensions or what is left of it
So what do you have left?
What makes a nation that has zero control over its economy or banking system?
And in spite of all this... After five long years of this, the Grecian people Still do not take to violent revolt to overthrow their leaders..
There's just something about 'democracy' and the naive belief you can change the destiny of your nation simply through a ballot box, which dulls the senses and turns political passion into passivity.
That'll scare em'..
Greece is the canary in the coal mine for a lot of nations..
But its summer..the weather is lovely.. Let em' rest n' play
Posted by Susquehanna at Tuesday, July 14, 2015