Sunday, November 06, 2011

Greece Goes to Hades ....

A Soup Fit For a King... But Not a Prime Minister in Greece.

     This is what pops up when you Google 'Greek Hobo'.   Zorba would be proud... What is not something to be proud of is the mess that is the Greek Economy - or lack of it.  PM George Papandreau has announced he will step down after barely getting a confidence vote, which came after his plan to have no Tzatziki, and leaving Greece's accepting a bailout on the vote of the people.. Way to go there, Papa!

    While not as bad as Greece, the problem mirrors what is slowly happening in the United States.  A government that has overspent at the expense of it's people and business, that can't seem to find a way to cut the expense - and a people that will not give anything back as well..  They have a word for it: Gridlock. 

   No, it's not that the US goes down if Greece defaults, and gets kicked out of the European Community.  But you can bet your old Drachmas that it will knock out a player or two here.  It's not just a line..... the economy is global.  Companies and banks are invested in places all over the world.  Meanwhile, Greece is just the worst case of a number of countries in Europe that are leveraged up to their asses.  Italy, Spain and Ireland are not all that far behind - and Germany can't finance all of them.  It's just the first domino.

    A bit gloom and doomy, isn't it?  Nah, they can fix it.  But, it will take some sacrifices from all, including Greece's citizens.  Not to be critical too much, but Europeans are generally lazier and spoiled.  They retire earlier, and work waaaaaaay less and get a billion more vacation time than we do - and they are paying for it.  You can't get everything, give nothing, and expect the gravy train to last forever.  It'll be a hard awakening for many countries - and eventually for us too.  You can bet your Baklava on it!


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