Greek Collapse - Watch Carefully, This is Where a Welfare State Ends Up. Comments?

Greek Politicians have Operated a welfare state for years. Less than 56% of the Greek people don't work, and the government has grown. In order to secure votes, Greek politicians have been forced to increase handouts to people. After the last Greek default and subsequent bailout, Greece did not cut spending or handouts one bit. They spent the money loaned to them on socialist programs to support the government and people who don't work. Needless to say, Greece is out of money and cannot pay back its debt. Banks in Greece are closing after Friday's run on the banks. Monday may well see rioting and a collapse of the entire monetary system.

Sound familiar? The US, under Liberal leadership for the 20 years have engaged in the same practice, buying votes through handouts and social programs. Further exhausting the system, the government has imported vast numbers of dependent immigrants that have immediately been dumped into the welfare system. Currently over 35% of the US households are on welfare. If things don't change, the US is going to end up in the same place as Greece. Your opinions? http://finance.yahoo.com/news/greek-parliament-gives-green-light-000712713.html


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Most Helpful Guy

  • You know that many left wing economists are saying that it is the right wing, neo-liberal economics prescribed by the troika that have crushed the Greek economy and created the humanitarian crisis? Though I agree that the Greek situation was ridiculous, it is more to do with corruption and incompetence than them being a welfare state.

    Left and right wing economics I think are both effective at what they try to do. There's no right answer. Personally, I prefer a left wing approach.

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    • No it was left wing socialism. It is a pretty simple paradigm. The country spent more than it could sustain. Tax increases weren't implemented, government grew, and again, the government fostered an environment of dependence. How can you have right wing neo-liberal economics? Socialism/Liberalism are the Left. Greece's last bailout should have given them breathing room but they cut not one thing... Now it is crash and burn time. it is where we are headed.

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    • there was no Right wing economics. They continued to spend, never cut back. When I say right wing, I mean people earn their living.

    • Thanks for the mho. :)

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What Girls Said 3

  • Really I flanker remember seeing a lot of articles and protests on how they've cut spending but yet built a deeper ditch
    rt.com/.../

    http://m.huffpost.com/us/entry/1341148
    "There would be job cuts in the public sector according to a redundancy and recruitment rule of 1 entry for 5 exits. Athens is to further cut pharmaceutical spending and operational spending of hospitals as well as welfare cash benefits."

    http://m.huffpost.com/us/entry/3948053

    And an American example is Kansas. They've cut their spending non stop and I think the filled for bankruptcy. They cut so much they can't even afford to keep schools open, and cuts to school have been shown to cause a large ripple effect on the economy.
    http://m.huffpost.com/us/entry/7001244

    I honestly don't see how cutting everything helps the economy it just doesn't make sense. When we had a liberal president (Clinton) we had a surplus of money and things were fine. Then we get in a president whose insistent on war (bush) and is the only president in history to cut taxes during war, and cuts social programs and we almost hit a level of poverty equal to the Great Depression. Now the current deficient is half and that's not really my opinion that's jay statistical data which doesn't lie, unless your think numbers lie.
    http://home.adelphi.edu/sbloch/deficits.html

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    • They didn't cut back on government spending. Companies there cut back on their jobs... it is companies that are leaving a sinking ship.

  • Very well put. Those with a liberal viewpoint of "give give give" should take notice. Conservative views regarding money aren't heartless, they are necessary.

    The US better watch itself. .. already trillions and trillions in debt and still farting money in every direction.

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  • they didn't develop any incentive programs to get the dole workers to work while earning welfare. Now Greece is in total crisis mode.

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What Guys Said 3

  • I agree with you.

    The funny thing is, here, in the UK, the Conservative government has a reputation for cutting government, which could not be further from the truth. The Conservatives have doubled the government debt in the five years that they have been in power, which has meant a greater increase than under the preceding thirteen years of Labour government (despite the fact that that Labour government was the government that poured money down the drain of 'stimulus spending'). Unfortunately, it suits both the Conservatives and their opponents falsely to portray the Conservative government as practising 'austerity'.

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  • The collapse of a nations economy and its bankruptcy can not be attributed to a single point. While the spending obligations of the Greek state were certainly egregious, to say that they were the primary reason for the bankruptcy is false.

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    • No, it was the uncontrolled government growth at a time when the country needed investment, imho... but that is typical of politicians... no true solutions...

  • The sad thing, is that even though this is obviously Americas future, finding this out isn't going to change anything. If there is one thing I have learned it is that people are too dumb to worry about the consequences of what they do today. Unfortunately people that don't pay taxes, but get government benefits are allowed to vote. These people are only concerned with voting themselves in a bigger pay raise.

    What makes it even worse is that because women are the number one recipients, of these programs, any attempt to reign in spending is deemed as part of a war on women instead of being seen as the real issue that it is.

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