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Milton J. Madison - An American Refugee Now Living in China, Where Liberty is Ascending

Federalism, Free Markets and the Liberty To Let One's Mind Wander. I Am Very Worried About the Fate of Liberty in the USA, Where Government is Taking people's Lives ____________________________________________________________________________________________ "Extremism in defense of liberty is no vice. Tolerance in the face of tyranny is no virtue." -Barry Goldwater-

Tuesday, May 11, 2010

Greek Bailouts: What Are They Good For? - Business - The Atlantic

I read this, just now and it kind of scares me.....
I'm glad, of course, that Greece is not triggering a second round of global financial crisis. But this doesn't solve any of the core problems that Greece has, which are:

1. A monetary policy wildly unsuited to its economy
2. A rapidly aging population which expects to be taken care of by fewer-and-fewer young people
3. A massive tax compliance problem
4. Government employees who think that their jobs and benefits are not merely a good thing for them to have, but something akin to a natural right
5. A long history of fiscal shenanigans
The reason that it scares me is almost every government on the face of the planet is living beyond the means of the people. No one can argue the United States is any different than Greece has been. Best of luck!!!!


Greek Bailouts: What Are They Good For? - Business - The Atlantic

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