Witticism of the day

Yesterday actually. It was in a Russia Today English-language interview (which IFO can’t find today). A local Greek professor said about the Greek debt/bailout financial crisis that in Prime Minister Papandreou’s call for a confidence vote in Parliament, he “tried to fall on his sword and missed.”

Papandreou won the vote, meaning he had to stay in office for the next vote – a tax increase coupled with a spending decrease, cutting government workers’ pay. That’s what the Athens riots are about.

IFO did read an accusation that George Soros and the Bilderbergers are the authors of this crisis. Be that as it may, the root cause of the problem is the Parliament’s refusal to face reality – Greeks don’t pay the taxes they are supposed to – so what good is a tax increase? – and refusing to drop the Socialist policies that are bankrupting them.

Sound familiar? The US Congress has been the same – so far. We’ll see if they can find a way out of our own financial morass, which may be worse per capita than Greece, and solve the $14+ TRILLION debt problem.

Advertisements

About InvestingforOne

I've been investing in various assets by myself using a discount broker for many years. Over that time, I've developed some theories that others might find useful. Plus, there is more to investing than money. Time, talent, work, friends, family all go into developing a good and satisfactory strategy.
This entry was posted in Economy and tagged . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s