Wednesday, May 16, 2012

The arrival of the inevitable

The Greek economy is collapsing.  It will soon exit the Euro system.  Continent-wide ramifications are already being felt.

One thinks of all the meetings, all the agreements, all the elections, all the taxpayers and investors who are just plain out big sums of money. 

The pointy-heads in designer suits kept cobbling together new arrangements when it was clear to all - even them  - that such overly clever maneuverings were no substitute for the kind of basic sound economic behavior that fosters prosperity and fends off trouble everywhere and always.

There are some basic facts about human nature and the nature of reality that can't be ignored.

3 comments:

  1. are you aware of the role derivatives aka credit default swaps are playing in this demise?

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  2. Which supports my assertion about basic tenets of economic behavior.

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  3. at the same time they have been lending them $$ they have been betting on them to fail.

    ReplyDelete