Thursday, March 11, 2010

Now I... I know we're not in Kansas!

Public services and transport in Greece have ground to a halt as deluded people stage a third general strike in protest at the government’s petite saving plans.
Truth is that the leftie Greek government isn’t saving near enough, they are not cutting expenditure enough and the corruption is still rampaging wild.

The government has pledged to cut this to 8.7% this year, and also reduce the 300bn-euro ($409bn) national debt, by cutting public sector salaries, raising the average retirement age, and increasing sales taxes.

What is needed is to double that and that’s with no tax increases. If they increase taxation hence lowering production they need more. And I believe we haven’t seen the last of the concealed debt yet and so even more savings will be needed.

The people of Greece need to understand this and act accordingly. Yes, this isn’t directly their fault. It is the corruption, it is the manic spending sprees authorities have been on and it is Evil Inc. Goldman Sachs that has brought in the derivatives scams and hid away the debt mountain that is at fault.

But to a large degree it is also about unions and leftie policies and the promises made that people listened to. The voters are also responsible. They only want the goodies, the smorgasbord of ‘free’ welfare checks, the payment, the actual cost they want nothing to do with.

Well, it is time to pay up and they are not alone. Iceland have already been through it, Portugal is currently doing the same, and Spain isn’t far behind.

Statism, regulations and fraudulent deals have destroyed the Greek economy. Yours is next…

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