CBS News reported tonight that despite efforts to bail out the country of Greece, its Government reported today that it was on the verge of bankruptcy. A Wall Street company that tried to help by offering loans, reported failure today as well, indicating their deals in Greece put them into a position of having $40 of debt for every $1 which is a very high ratio. The Wall Street company lost over $6 billion.
Rachel Marsden wrote in June 2011, the following, "As a free-market, limited-government conservative, the total implosion of the Greek economy is the most stunning example of everything I’ve ever tried to warn about in regard to socialism." Read more
2 comments:
Free market is a nice idea.
Some social programs are a nice idea.
Capitalism is a nice idea.
Democracy is a nice idea.
ALL OF THEM NEED CONTROLS AND BALANCE. Greece is a good example of letting Democracy and Socialism run unchecked.
Now we need to do something about unchecked Capitalism and unchecked free market.
And the ever present danger of unchecked Nationalism is always there as well.
Checks and balances,
Checks and balances.
No "isms" or ideologies for me.
Do whatever you want to, eat whatever you want to, etc., is what was taught to me by my parents. This relates very nicely with checks and balances and is the concept laid out by our Founding Fathers, who are not as dumb or as outdated as some of us think or thought they were or are.
Discipline, self respect, and taking responsibility is at the heart of the Greek issue and is what is missing in America. Although, some might argue that they are taking responsibility now. But, is it too little too late.
We see bad role model in every facet of life, no exceptions, so we are left to our own devices which unfortunately is not enough.
The systemic problem in the US and around the world is not the 1%, nor is it one of the "isms" but it is greed, power,position, and control.
We can see this on the playgrounds in our elementary schools, on the sports fields in all types of sports, in our Churches, in our families between spouses, in the workplace, in our hospitals among doctors and nurses, and in our non-profit organizations among their Board of Directors that typically come from middle management positions in search of power and control.
This goes back to the very early stages of man's existence in the Garden of Eden: greed, power, and control.
So, Greece may be the first country to suffer the effects and affects of over-stimulation of the senses, but America is not too far behind.
Yes, checks and balances, at one time, would have worked, but I am fearful that they will have little impact now.
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