Greece illustrates where economies dominated by their own government end up. Eventually the ability to borrow more dries up and the economy, which in the long run gets its vitality from the private sector, is just a hollowed out shell ruled by corrupt, incompetent weiners serving their own interests and that of their powerful allies. American is different than Greece in that it can deffer the hardship by printing money until that destroys the value of its currency, all the while avoiding the necessary shrinking of the public sector.
The People Behind the Numbers: Greece Threatened with Widespread, Long-Term Poverty - SPIEGEL ONLINE - News - International: www.spiegel.de/international/europe/0,1518,775301,....html
http://chumly.com/n/a9a52d
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment