Skip to comments.Greece's Bailout Socialism Penalizes Youth Most
Posted on 02/22/2012 10:58:17 AM PST by IBD editorial writer
Socialism: Rational or not, Greece's street riots and emigration rates signify one thing: Socialism offers very little to the young. So why is the EU's $172 billion bailout geared toward saving so much of the failed socialist system?
As Europe prepares to deliver a historic $172 billion bailout to Greece in a deal announced Monday, it's pretty much a given that the austerity conditions required, in the absence of a true free market, will hit youth hardest. Athens will be trashed by another youth rampage, as many youths blame the pain on something other than Greece's deeply rooted socialism.
A bigger effect will come from Greeks who do recognize reality. They won't riot. They'll leave, voting with their feet just as Eastern Europe's youth once did.
The young in both cases are victims of socialism, which claims to make people equal but, in reality, penalizes the young. For Greece, a country already gutted by a below-replacement birth rate and an aging population, that's a disaster.
(Excerpt) Read more at news.investors.com ...
What about older Grecian’s, with savings from a lifetime of work? Whether or not retired, their lifetime savings could become, if not already, worthless.
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Greece’s fiscal problems are the third-rate warm-up band for the real Headliner: The burgeoning US fiscal nightmare, compounded by undeniable demographic trends.
Weep for your grandchildren.
The rhetoric of Socialism aims at the rich, but is used by the ultra rich to snuff out competition.
and what follows is......New Turkey
And don’t forget, conservatives will get blamed for the financial collapse and anarchy in the streets.
Yet another casualty of Socialism.
What’s a Grecian urn? Nothing, once you factor in the value of pension plans.
why assume they have savings?
Why? because they have a semblance of a middle class... or should I say “had” a semblance.
Spent some time in Athens and a few other Greek areas on a cruise a few years ago. They clearly had then some middle class folks that I presume would have some amount of nest eggs to protect from their “’Rats”
Socialism aims to grossly distorts how anyone views reality,it denies God(which is stupid)while almost always kissing up to any organized religion that keeps its followers “in line”.....agreeing with whatever the left is up to.
It functions on the idea that there is a perfect understanding that the government will lie,that it can’t be trusted to take care of its own but that as long as it’s the left in charge that is ok because they still provide the “best government”.
Hence they don’t worry about broken promises because the Greeks were supposed to be smart enough to realize their government was lying through its teeth.
The young and the retirees can complain all they want but as far as their government is concerned,it has no obligations to them beyond lying to them about what it is going to do to help them.
Many of those people worked for the government and did or expected to retire with pretty fat pensions. The incentive simply wasn’t there. As for private industry Greece simply doesn’t make much at all. Tourism has been a very large industry there. I think the room for error was really small.
This is why their economy is cratering. Not many have anything to spend.