Thursday, June 16, 2011

Is This News?

There is a growing realization by world financial markets that Greece is not going to make it without some kind of default (partial or complete). Is this really a surprise? Is Obama serious that US taxpayers should step in and finance profligate Greek spending behavior? How absurd is the Obama economics going to get?

The Greeks expect the rest of Europe (and now, according to Obama, the US) to fund their extravagant lifestyle. Why? What greater good is served by bailing out folks who have a corrupt political and economic system and no work ethic? Does that do some over-arching good somewhere?

There seems to be no end to the irrationality of Obama economic policy. Let the Greeks default. Is it really a surprise that they are on the brink of default? Ordinary Greeks are not interested in paying their own bills. Look at the riots in the streets. That tells you what the typical Greek citizen thinks. They are mad that the rest of Europe is not willing to fund them indefinitely.

So, where is the news in this? When will Europe (and Obama) wake up to the realities of economic life?

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