Friday, May 10, 2013

Yes, Greece Is Still a Disaster

When a nation's youth unemployment rate hits 60%, which it has in Greece, it is not a "recession".  It is a total collapse of the the economy.  Let's diagnose the problem correctly here, this has nothing to do with this level of "austerity" or that amount of "stimulus".  The Greek state effectively ran the economy and the state has collapsed into a pit of insolvency, thus has the economy done so as well.

It is just worth noting every time we are reminded of the catastrophe that is Greece that the US is heading in that direction under Obama.  We may or may not ever get there, but it is undeniable, that is the general direction in which we are headed.

Lastly, it is worth noting again that we ought to think deeply about whether we showing the "compassion" that many of us think we are showing by expanding government into every corner of our lives.  How compassionate is it to build a giant structure that collapses in on everybody?


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