Rooting for Greece
I care and I imagine some of you care for the future and welfare of Greece. Just recently I was talking to a business associate who mentioned he had some Greek friends in the Williamsport area. His reference to this Greek friends was the same as mine. His reference to his friends was that they were hard working entrepreneurial folks, fine citizens. One that I know has investments back home and it’s tough because the nation is near bankruptcy and not many people have money. The problem has been going on for decades and is not improving because of the large number of citizens getting entitlements.
Greece has used their borrowed funds to pay their debt. This is and has been a vicious cycle using other people’s money to pay your bills. There has been a bright spot in this whole matter, which was their revenues met their budget needs. However, with way out liberals, Nazis, and communists filling the ranks of government, it doesn’t seem likely the economic/finance problems are going to be solved.
The Greeks, like Spain, Italy and some other members of the EU, are true socialists and that system of government has just not worked. Greece took meeting after meeting with the EU lending group to come up with an austerity program which would satisfy the lending body. In fact, it happened only days before the country was going bankrupt, that they came up with a plan and that was because they were practically forced to do it by the lending body, the IMF, the Central Bank, the EU members, etc.
Greece this past quarter was able to meet their budget. This was a bright spot in the scheme of things however don’t overlook the huge underground which accounts to “whom” and doesn’t pay taxes. The hardworking Grecians understand some of this. 2 percent of the economy is good while 97 percent think it is bad. Greece’s prime minister Alexis Tsipras keeps making promises to the public which he cannot deliver on. This continually makes the creditors upset.
Where do we go from here? Not the United States, with its minimum wage laws, 99 weeks of unemployment, and 47 million people on food stamps.
The best model today to look at is Singapore. Singapore has 7.7 percent unemployment and welfare is a dirty word. Workers fund themselves with regard to pensions and their future. Children are obligated to take care of their parents in old age.
Thank goodness the United States is not in the middle, “national building,” because if they do the job themselves it will be like the pearl rising out among the swine. Greece — the World is rooting for you.