Crusty Logic Christianity & Liberty

More on OWS, and Greece

Greed. Perhaps the most common point the Occupy folks seem to be making is that they are protesting greed.  On the other hand, many of them have been shouting that someone should pay for them to go to university.  Who’s greedier, someone who works and earns money legally, or someone who wants the person who works and earns money legally to pay for his university?

Greece. It’s a bit important to understand what’s happening in Greece.  The Greek government, like the U.S., has been spending more than it takes in.  Largely to pay for entitlement programs.  Worse, they have run out of their ability to borrow money from banks or other countries.  The Greek economy does not produce enough to pay for the lifestyle to which its citizens have become accustomed.

While this seems like only a Greek problem or at worst a Euro problem, it is greater.  If Greece defaults, if they are not able to pay their debts, it will raise concerns among banks and countries that other countries like Italy or Spain, or even France, will not be able to pay their debts.  This will create another credit crisis, and perhaps one larger than we’ve seen previously.  Countries won’t be able to borrow nor will private companies.  Without the ability to borrow countries will not be able to pay for their current social welfare systems leaving tens of millions of people without the income they currently receive from their governments and will severely limit private companies ability to retain workers, much less hire new ones.

So, if you’re a worker in the U.S. who wants to keep your job, you also want Greece to pull through their debt crisis.

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