UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next
Author: MrCynic Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1967384  
Subject: Tea Party Goes Global Date: 9/25/2011 11:42 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 4
The fiscal turmoil in Greece is not about fiscal balance. It’s a fight between looters and moochers such as Olga Stefou, who think taxpayers should endlessly subsidize everything, and the shrinking group of productive people who are pulling the wagon and keeping Greece’s economy from total collapse. Not surprisingly, the Greek government has tried to prop up its uncompetitive welfare state by pillaging that group of productive people. But it appears that the kleptocrats may have gone too far and triggered a Tea Party-type revolt. . . . These two stories underscore the message that I’ve been repeating for years. Greece’s problem is not deficits and debt. Red ink and imminent default are bad, but they are symptoms of the real problem of a bloated public sector and the dependency culture created by too much government.”

Americans living in the age of Obama are increasingly familiar with the types of problems that make doing business in Greece very difficult: a myriad of regulations and bureaucracies, strong labor unions, corruption, high cost and risk of being an employer, and poor protection for investors. In the EU Greece is the worst for starting a business in, in the world it ranks 140 out of 180 countries.

And all the barriers to economic development are due to poor governance -- leftist ideologues in power that know nothing of economics, who think the the private sector can be endlessly looted, and who think that social justice requires thousands and thousands of regulations and controls of the economy.

The welfare state model of development, dominated by public unions, onerous regulations, high taxes and the political allocation of capital, has hit the wall. Down that road lies more Greek tragedy.

http://danieljmitchell.wordpress.com/2011/09/24/the-tea-part...
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next

Announcements

Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Apple

Wal-Mart Nixes Apple Pay
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement