The chaos in Greece is a fascinating demonstration of what happens when the utterly corrupt and the patently stupid work together, and then against each other. Much like American politics, everyone is so busy taking sides that they forget both sides are wrong.
On one side are the Greeks, specifically their incompetent government and delusional voters. Greece has been so mismanaged by its government for decades that it’s comical, with the spending and debt being staggering in its vastness.
Here are just a few items. They spent $10-15 billion that they didn’t have just for the Athens 2004 Olympics. They have a massive, government run train system that constantly runs near-empty trains. Hundreds (if not thousands) of Greeks pretend that they’re blind so they can get EU welfare checks. When Greece initiated a tax on swimming pools, thousands of Greeks used big tents to cover up their swimming pools so they wouldn’t have to pay the tax, while still screaming for government pensions and/or welfare checks. Amazingly, the government-supported pension retirement age in Greece was 58(!) up until 2007. And get this: in the late 90s, the socialists passed a law that a member of parliament can’t be prosecuted for any crime while serving in office(!). Haha! On and on the stupidity goes.
So, shock of all shocks, Greece is now essentially bankrupt, has no money, and it’s now mathematically impossible for them to pay their debt.
Of course the US is just as indebted as Greece was up until just a few years ago. The difference is that our corrupt Federal Reserve can print money out of thin hair, temporally keeping the corpse alive. Greece is part of eurozone, and is thus forced to use the euro, a currency it can’t print. So unlike us Americans, Greece is screwed right now (as opposed to us, who will be screwed later).
On the other side of the issue are the corrupt bankers and eurofascists of the European Union (which I call the GBEO, or Germany Bails Everyone Out), the European Central Bank, and the IMF. These banker fascists want the EU to encompass and control all of Europe, finally realizing Hitler’s dream of a unified Europe under a small elite, only using banks and bribes instead of tanks and guns. As such, they wanted every country to be a part of the EU as possible, no matter how screwed up the countries were.
Knowing that Greece was a mess, they didn’t care. There’s even evidence to suggest that the ECB (specifically Goldman Sachs) knew Greece was clearly headed for disaster but they covered it up so they could join and stay within the EU anyway. The IMF knew damn well that Greece couldn’t repay their loans as late as 2011 (and likely much sooner) but they kept loaning them money anyway, with German and France taxpayer dollars (and/or money printing).
In the big recession of 2007-2008, the EU socialized the loans the private banks made to Greece, the bankers got rich, and European taxpayers got stuck with the bill. Isn’t that nice? That EU is such a good deal for you Europeans!
Recently, the corrupt eurofascists told the morons in Greece that they needed to cut back more on their spending if they wanted more banker bailouts, and on Sunday, the people of Greece said ‘Hell No’.
Now, Greece may actually leave the EU (which would be a good thing, since the EU is bad), the Greek death spiral continues, and the EU is panicking. Greeks want money they don’t have, and the EU doesn’t want any countries to leave the EU (thereby delegitimizing the entire EU, aww).
It’s a huge cluster fuck, but this is what eventually happens when you let governments hand out mountains of cash they don’t have to lazy or dishonest citizens, and when you let big, corrupt banks control your monetary polices. There can’t be any other result than disaster.
Meanwhile, Puerto Rico teeters on default and the Chinese stock market has lost $3 trillion in less than three weeks…
Interesting times ahead. Fasten your seat belts.