News

Greece: The Self-Inflicted Wounds of a Careless Country

Greece: The Self-Inflicted Wounds of a Careless Country

Liz adds a great amount of detail and understanding to the crisis in Greece - coming soon to a country near you!

The Fiscal Times
July 8, 2015

Bernie Sanders is delighted that Greeks voted “No” to creditors’ demands to reduce the country’s unsustainable debt. Like other self-described socialists, Sanders believes the poor Greeks have taken enough of a drubbing from international lenders. His view: “At a time of grotesque wealth inequality, the pensions of the people in Greece should not be cut further to pay back some of the largest banks and wealthiest financiers in the world.” It must be comforting to see everything as black or white.

In Bernie’s world, lenders are bad and borrowers are good. Whether it’s homebuyers during the property bubble, in-hock students, Puerto Ricans or the Greeks, being forced to repay debts is inhumane. On the one hand you have innocent people, on the other a bunch of greedy bankers.

When you lend someone money, they either hate you, or they pay it back - seldom both. And it's easier to hate someone to justify not paying back a debt you don't want to owe.

 

Read more here.