Free Markets, Free People


Greece? Just Like The US

You have to wonder how far we’ve slipped when the financial wreck that is Greece is assured that its situation isn’t so unique – look at the US.  And the example is made by none other than America’s best friend – Vladimir Putin:

Russian Prime Minister Vladimir Putin played down Greece’s economic woes on Tuesday, telling his visiting Greek counterpart that the United States were no better than Greece in handling its debt and fiscal deficit.

“As we all know, the global economic crisis started neither in Greece, nor in Russia, nor in Europe,” Mr. Putin told a news conference after talks with George Papandreou. “It came to us from across the ocean,” he said in a clear reference to the United States.

“There (in the U.S.) we can see similar problems – massive external debt, budget deficit,” Mr. Putin added, suggesting Russia and Greece should concentrate on the “real economy” to weather the economic crisis.

It’s not clear what the “real economy” means. However it is clear that for Greece and the US, what they are doing isn’t sustainable and at some point the “real economy” or at least the laws of economics are not going to be denied – for both countries.

~McQ

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8 Responses to Greece? Just Like The US

  • What is so frightening is that Greece is in full fiscal meltdown, and yet the dimwitted American media (“Duh? What do you want us to say?”) continues to cover for the fakir in the White House, The Clown™, who is so over his head that he has no idea what to do, and he and Vice President Imbecile fiddle while Rome burns.

    I know people will shake their heads at what I am saying, but I hope we survive until January 20, 2013, so we can be rid of this disaster currently engorged in the presidency.

    • The problem is that, if a Republican replaces Imeme, HE will get the blame for the mess while Imeme spends his time raking in the cash from speechmaking and explaining to a creduous, collaborative MiniTru how he tried so gosh-darned hard to fix everything, and how things would be absolutely rosy if only those nasty ol’ obstructionists in the GOP had done what he wanted.

      It’s great to be a dem: you’re never responsible for anything, and you even get credit for having “solutions” for cleaning up the mess you made in the first place.

  • Didn’t Russia default on its obligations a few years back? heh heh

    • Yes they did. Russia was and still is a borderline basket case. Declining mortality, yup. Declining birth rates, check. Economic stagnation, yes.
      The only thing keeping Russia afloat is a super abundance of oil and gas for sale. And at current prices that brings in lots of foreign exchange. It’s too bad that our national leaders have forgotten one of the fundamental truths about the international price for oil: high prices enrich bad actors. Who benefits from high oil prices (aside from oil companies which are marginal players compared to national governments)? Saudi Arabia, Iran, Russia, Venezuela, Nigeria, Indonesia. A veritable rogues gallery of bad actors. Rather than focusing on increasing supply, our nation’s leaders seem fixated on reducing demand. If we have to have an energy policy, why isn’t it more supply at a lower price?
      I say defund the bastards!
       

  • If only Spain’s economy had more regulations…then they’d be in good shape.