Well the inevitable has happened. Many countries in the European Union are going broke due to decades of trying to tax, borrow and spend their way into prosperity. Sadly socialism does not die quietly and currently union led riots are tearing Greece apart as delusional citizens feel that protests and a deep sense of entitlement will somehow bring them resources that simply do not exist.
What part of broke do they not understand? The cupboard is bare and is becoming so in Ireland, Portugal, Italy and many other European states.
We can’t get on too high a horse here in Canada. As we encourage an ever-growing governments on all levels we on a collision course with the same situation as Europe. We just have not progressed deeply enough into the hole of entitlement and debt yet.
As rioters who depended on cradle to grave socialism take to the streets in Athens, please look at the pictures and remember them at the appropriate times.
When somebody tries to convince you that government debt is not a bad thing, remember Greece!
When government tries to convince you that a company is too big to fail,
If your government buys off public sector unions with unreasonable pension and wage concessions, before you go out to vote in the next election,
Before considering supporting a government promising massive spending increases
When people try to stunt economic development in the name of fanatical environmentalism and anti-capitalist ideology
Greece has kindly though unintentionally learned a lesson on our behalf and we would be pretty foolish not to heed it.
Will we look at hard realities now and bring our size and expectations of the state under control or will be go down the inevitable road to bankruptcy?
It is pretty depressing to see how many Greeks still don’t get it. Tearing your cities to the ground will not make resources appear where they simply don’t exist.