Greece should go to the drachma and default 100% on their EURO bonds, encouraging Italy and Spain to do the same.

And with all the college grads and entrepreneurs leaving, there will not be any John Galt's.
Puts the country in a very dangerous spot, someone or some group could move in make all kinds of promises and take over the country. Then they will be even worse off.

Very true. Atlas Shrugged is playing out in Greece, without John Galt, and Dagny Taggart.

Then they could become President or PM, right?
LOL.

Oh, THAT'S gonna work SO well...
Stay tuned to the Disaster Channel for updates...

Search MarketMinder.com's comments on QE's.
most amusing.

http://www.marketminder.com/a/fisher-inv...

Susanne... I think Greece 'ended' some years ago when the Greeks went on strike because they wanted higher wages and lower taxes, despite the obvious fact that their wages were being subsidized by taxes.

There's either a socialist-thinking problem there or a flat-out IQ deficiency.

But hey, lots of Americans draw the same stupid conclusions, too. Maybe it's a virus meme..

as I posted there...

And then some Greek bureaucratic moron will initiate a law to make the exodus illegal.
Nobody recalls the British Brain Drain Exodus about forty or so years ago when wages were lousy in Britain and companies were paying engineers lots more in the US?
Nobody in the US' Congress could connect the dots well enough to realize that corporate tax levels also indicate a degree of 'free-market competition' at the International Level?!
It would be funny if it weren't so sad.

Experience is a cold mistress. Best to learn from the mistakes or others, but few have the wisdom to learn from other than direct experience; thus, the repetition of history.

exactly right! alas, I think the sheeple still would not understand... experience is the best (& worst) teacher...

This is a real life AS cameo that needs communication. Maybe Ron Paul will use the example. Perhaps we can dissuade Jon Lovitiz to use his wit for our cause yet again.

This is what Fox News should discuss, instead of Islam being the enemy. Socialism is a much more real enemy than any Islamic agent can pose within an order of magnitude!

If we had any real statesmen here, they would point to the Greek debacle and show people, in a few years, that's us.. If things don't change. The problem is that the uneducated masses always believe the "leaders" that say "we know better" or "we'll get it right this time".. I've always hoped that enough people might see and learn from what's happening in Greece and change our path.. The sad truth is that as AR illustrated in AS, I don't think people can be shown or educated, they must experience it for themselves. Until people experience the inevitable collapse, they will continue to think we can avoid it.

Why do they have girl scouts patrolling? Are the pom-poms on the shoes for tickling something?

This needs to result in the consequences it deserves. Sorry for the suffering of some. The unsustainable needs to be shown unsustainable.

How long until the rest of Europe becomes similarly unsustainable? They cannot compete against the US or Asia. Is Europe the canary in the socialist coal mine, and can any or our leaders illustrate it so?

Yep, as described so eloquently in The Creature from Jekyll Island by G. Edward Griffin.

no or not much longer, as I believe will happen.

QE - is that the euphemism for buying IOUs with fiat money, then using the IOUs as backing for additional fiat money?

The new PM is going to rehire all public sector employees who lost their jobs, spend more, raise wages, but pretends Greece will not default, which was already a foregone conclusion.

Would we last one whole generation? 25 years?

That amount of quantitative easing is about the same as the US's.

And with people like Sharpton and Jackson they are never going to learn anything that will put them in a position to make their life better unless the take up community organizing.

I took a trip via ship along the Mediterranean coast and we would stop and spend a day or two touring the cities and country. I was shocked and so disappointed to see that the great structures of the ancient world are as covered with graffiti and any building in NYC. It ruined the various tours for me.

http://www.washingtonpost.com/blogs/wonk...

A far more worthwhile endeavor, IMO.

it appears the club of non-learners is growing by the day.

But the funeral was just announced.