Posted on 06/18/2012 7:30:55 AM PDT by blam
“He that goes a-borrowing goes a-sorrowing.”- Poor Richard’s Almanac. When you go in the hole, year after year, paying out more than you are taking in, disaster is the only possible result.
That goes double for the U.S., since we have an inert clown and abject cypher in the WH!
What could be worse.... I am almost afraid to answer myself.
On NPR this morning, they described the greek thing as keeping it going in the hope of someone coming up with some as yet undiscovered solution to this mess that could fix the situation.
IOW, the situation is still them jumping off a 100 story building and now they are all the way to the 3rd floor, and they shout through an open window to the guy inside, “so far, so good!”.
But the pavement is very close now and they are still accelerating. It will not be pretty. For any of us.
http://www.indexmundi.com/g/g.aspx?c=gr&v=24
Like a lot of the EU, since they are losing population when a married Greek couple has only one child on average, they imported workers.
Unfortunately then many of those workers quickly figured out socialism and went on the dole.
Yes-sir, this can just got kicked a few feet down the road.
Instead of celebrating, most Greeks seemed resigned to a very hard future.”
Pfft.
Meaning someone might have to work?
—We are watching a slow-motion financial train wreck that is absolutely unprecedented happen right in front of our eyes and our politicians are powerless to stop it. —
This.
However, many of us that predicted this did not realize just how much they could slow down time. I expected to be here last fall. I don’t think it will last beyond this year, however. Heck, I think our election cycle will be one of the catalysts that move it closer into real time.
Kicking the can down the road some more.
——Yes-sir, this can just got kicked a few feet down the road.——
This is all so mind-numbingly and soul-crushingly pathetic. They’re going to get what they deserve, but sadly, so will we.
I don’t remember who posted this analogy, but it’s apt as well -
two guys are “training” to jump the grand canyon.
One sits on the couch eating junk food and watching Jeopardy reruns.
The other runs, takes supplements, weight trains, and practices jumping technique.
He’s still gonna plunge to his death.
It’s pretty much a demographic problem. I don’t think my own children will kill me but when grandchildren come along, I’m not turning my back on them ..... our growth rate isn’t really all that bad, but I doubt they will appreciate being handed the huge bill for the last several years.
The Greeks don’t have any kids to tie their debt tin can on to. A lot of German women have decided not to have children, so same-same, and Germany is supposed to be the EU `powerhouse.’
The main reason Europe has gotten away so long with `cradle-to-grave’ spending is that we were paying for their security. Now their biggest problems are internal, the old: `We imported mongooses (mongeese?) to kill the flying carnivorous lizards, then baboons to kill the mongeese and now the baboons are hunting us ... ‘ dilemma.
All of this (except the immediate bizarre baboon analogy) is from Steyn’s `America: Armageddon.’
The clock is ticking and yeah, we’re pretty much doomed. All of us.
Well, I’m going to go lay a hardwood floor. Work that Americans won’t do, doncha know. BLOAT.
you are confusing those who work for the government with private sector employees.
——Well, I’m going to go lay a hardwood floor.——
What else can yo do?
On the plus side, we’ll be the ones to clean up the liberals’ mess, and be criticised for it. Something to look forward to.
—When you go in the hole, year after year, paying out more than you are taking in, disaster is the only possible result.—
And the whole western world has been doing that for a very long time. But the ride is clearly over. It is why I thought, back in 2008, that only a fool would want to be president. Which gives one an idea of what I thought of the two candidates then, as well as the two candidates now.
What sane man actually seeks the position of responsibility for a system that is on the verge of collapse and there is no human solution?
HAHAHA! That was me. :-)
FWIW, I actually got the analogy from Discipleship Dynamics. A person “working their way to heaven” is no better off than a person breaking all of the commandments with impunity. In the end, neither can jump a chasm that wide. It takes the blood of Christ to bridge the gap.
It works great for any situation where those that try really hard are no closer to the goal than those that don’t bother trying at all.
Spain is almost certainly going to need a huge bailout.
Italy is almost certainly going to need a huge bailout.
Ireland and Portugal look like they are going to need more money.
France is increasingly looking vulnerable, and Francois Hollande appears to have no real solutions up his sleeve.
As Margaret Thatcher said, more or less, Socialism works until you run out of other people's money. Perhaps the USA will step up and spend a few trillion to prop them up until after the election. Why budget when you can borrow, print, and blame Bush and the greedy rich?
Of course the rich are already paying their "fair" share, but it is a moving target.
“On Monday we are likely to see financial markets across the globe in celebration mode.”
Not the American market, investors have seen the light. The bailout money isn’t even going to Greece, it’s going to the broken Euro banks than loaned Greece money. The bailouts are paying interest (not principal) on money already spent. The debt remains and more interest must be paid again soon.
And...22% of the latest bailout comes from Italy. That’s called contagion. Think of the old game called musical chairs.
Greece is getting no lasting benefit, and the broken banks are only being kept open temporarily as Greece can’t make its payments.
At some point, political pressure will stop the waste of the bailouts and the piper will be standing there with his hand out. Then the real violence will begin.
Check.
I have been consistently wrong in my expectations of 'the end.'
I don't expect that trend to change, so....no matter what I say, It's probably wrong.(LOL)
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.