Sunday, July 05, 2015

What are we really seeing in the “Greek Debt Crisis”?



When the housing bubble burst a few years ago, we were shown how banks took loans, bundled them into securities and then sold the securities as US Federally guaranteed investments.  That scheme has cost billions in tax dollars to correct, billions in income losses to millions of Americans (yet alone the rest of the world’s economy)and we are still suffering from the impact of the “Great Recession”. We saw the banks dictating terms to people who had lost their jobs and were then losing their homes. Then turn and ask the US Federal Government to help them.

Today, we see Greece, in debt to banks (the IMF, the EU Central Bank and other smaller banks world wide) and being dictated to on how to raise money and not spend it on themselves.  Greece has never been a world economic power.  Its history has been in the riches of ideas and art.  Even the great conquests of Alexander the Great did not bring great wealth to Greece, but in turn brought Greek thinking and ideas to the the lands he conquered.

What the banks and currency lenders are asking of Greece is to bow to their power, and to destroy the lives of the workers and the retired.  When Greece entered the Euro, its economy too a dip, and has never recovered.  The price of goods increased, yet wages did not increase proportionally.  We saw this in all the Mediterranean countries, Italy, Spain and Portugal all suffered this rise in prices and stagnation of wages.  To counter this, the governments of these countries tried to save their people, the most vulnerable being pensioners, from a slow destruction of their financial life.  These pensions were given not out of wasteful spending, but out of the necessity to allow those on pensions to survive in dignity.

Every economist, from the most liberal to the most conservative, will tell you that VAT taxes, and sales taxes are regressive taxes that affect the poor and the working classes the most.  Yet, these are the places that the banks are asking Greece to raise money.

In the uncertain world of former Soviet Satellite Countries, Greece is and has been vulnerable to the uncertainties of military aggression. When the major economies of Europe are cutting their military spending (putting a larger portion of spending in defending Europe and NATO nations upon the United States) they are asking the same of Greece.  The Greek Government is resisting these cuts, as they should. 

Do not be surprised, if within the next few months, you see large loans, at better terms, coming to Greece from Russia and China.  These loans will enable Greece to survive, but in the long term, the Euro will go away from Greece, NATO will have more to be concerned about, and the defending of Greece will become a Slav issue, taken on by Russia.


The solution is not easy, but a slow transition away from the Euro for Greece and a return of the Drachma would help the working people of Greece, and isn’t that more important than profits for banks and money institutions that are willing to dictate terms no longer just to individuals, but to sovereign nations?

Thursday, May 28, 2015

Thursday, June 26, 2014

Early summer/late spring

 photo IMG_5391_zps6c32cbf5.jpg  photo IMG_5337_zps1cb26fbb.jpg  photo IMG_5180_zpsacc9232f.jpg  photo IMG_5182_zpsd1b82a3c.jpg On a side note, This is the store I always go to in Rome to buy religious articles. I was surprised to see it used on CNN.  photo Untitled6_zps8e990208.jpg

Tuesday, March 25, 2014

Spring 2014

Let them speak for themselves!  photo 07beess_zps311cc8a1.jpg  photo 04beess_zps0321ce77.jpg  photo 08Gerberss_zpsdff0d007.jpg  photo 02beess_zps5c10f477.jpg  photo 012beess_zps6ffd0129.jpg  photo 01poppyss_zps5b1fe145.jpg

Monday, July 22, 2013

Drive Back from Reno

It was a short stop on a long drive, but garnered some pretty shots.  photo ss5_zpsba0c8634.jpg  photo ss4_zpsfa9c8a99.jpg  photo ss2_zpse6b4b46e.jpg  photo ss1_zps46ad3f05.jpg

Sunday, January 06, 2013

San Francisco

Oh the weather could NOT have been better! Photobucket Photobucket Photobucket WHAT? You expected something besides flowers? Photobucket Happy now :)

Monday, November 19, 2012

Autumn

From around Madera and from home.. Photobucket Photobucket Photobucket Photobucket Photobucket Photobucket Photobucket

Thursday, October 25, 2012

Monday, October 08, 2012

To and From Reno

I seldom stop when driving, I really should do so more often. I still remember my Grandmother taking me here to the Donner Memorial as a young child. It still moves me to think that those 3 people WALKED to Sacramento (Fort Sutter) In winter to get help for their family and friends. Photobucket Photobucket Photobucket Photobucket Photobucket ripples in water or just bad hung over eyes! lol Photobucket Photobucket