My Take on the Greek Economic Crisis

Ok. It's actually really simple to understand.

The Greeks owe money. Far more than they are ever going to be able to pay back.

The Germans are being asked to pay the debts, or take the loss or whatever, because the germans were the most fiscally responsible, so they have the highest credit rating, and in economic terms they have the most cash because they worked hard for it.

Think about that a moment. You got a nice house and a car and everything ,and you worked hard for it. Many a long day and night. But now the neighbors want you to bail out the welfare bums down the street who spent the rent money on booze. And yes, neibhbors on booze isn't a bad analogy. People retiring way early in their life, over paid government workers , etc etc ...

So if you were the germans what would you do ? You'd tell them to go to hell.

Except you lent the guys down the street a hundred bucks. Hmm... not getting that money back.

Turns out everyone else lent those boozers a hundred bucks too, or more, so much so that some of them arn't going to be able to make the rent if they don't get paid back. So they're getting kind of desperate, meanwhile the boozer neibours are still drinking away , showing no signs of financial responsibility (ie: no one's likely to get paid back).

So whats going to happen ?

The boozie neibours are going to drink until they run out of cash.

They guy who lent them his rent money .... he's not getting it back. Him and his land lord will have words. If he's an over spending boozer , he's probably in trouble. If it was just a deal gone bad, he'll cut a deal , the land lord (probably the germans ) will take a small loss , and life will go on.

And the boozie neibours will get booted out. Look at all the trouble they caused.

Whats happening now in Europe ?

They're squabbling over who's going to take the loss. Everyone is saying "Not Me !" in new and creative ways, but guess what ? They're gonna take the loss anyways.

No taxation without representation. That means no forieners stepping in and taking everyone's money and giving them nothing. Britain tried that against america. That resulted in a rather famous tea party and a rather nasty war of liberation. Money isn't worth a war. We need to make that perfectly clear. Cut the Greeks off , but no going to war. Not for a few stupid dollars.

As a nation , one of the greatest corrective measures you have is to print more money. It devalues every dollar out there , but it gives you a wad of cash to pay off the people who lent you money. But the European Union denied themsevesl that ability ,causing this mess.

And they don't want to give it to greece now ! Greece will devalue it's dollar and pay everyone off in monopoly money.

Sadly , their choices here are bad , worse , and even worse than that. There aren't any good ones. Certain banks are going to the cleaners.

But it would be irresponsible not to fight tooth and nail against it.

And so the show goes on.