Why Should We Care about Greece?

Published on American Thinker, by Michael Booth, March 14, 2015.

… The answer has several parts; political, economic, ideological and perhaps — given Greece’s history — even philosophic, all blended together into an acrid, ruinous stew.

Greece is routinely painted in the Western MSM as the feckless child, and over the decades there’s truth in this. The Greeks are the author of their current situation. But that history of economic fantasy changed in the last Greek election, with the empowerment of a reality-based coalition.  

The new government wants to recognize the obvious. They want to declare Greece bankrupt and default on 50% of their massive sovereign debt… which is rational given that the country is not only bankrupt but completely illiquid and totally insolvent. (Their debt should be 100% defaulted IMHO but whatever).

The rest of the EU, led by Germany, wants to pretend all is well, have the Greeks borrow yet more money to pay interest on the mountain of existing debt thus adding to it, and extend maturities for the principle payments coming due into the far, dark, distant future. This is known in reality-based circles as “extend and pretend”. Younger readers might think of it as the “Voldemort Strategy”: never saying what must not be spoken of … //

… We should care about Greece as an object lesson. All Western democracies, without exception and including our own, are traveling down the same road Greece has traversed, headed sooner or later into the same financial box canyon in which Greece now finds itself.

The choice, no matter how long delayed, finally becomes confiscation or default. “Extend and pretend” is not a valid, long-term solution. Pretending bankrupt nations are healthy is always, ultimately delusional and self-destructive. Such attempts to prolong the inevitable are not signs of political wisdom but sure signs of political exhaustion … //

… (full text).

Greece related Links:

Other Links:

Vanuatu a scene of destruction after cyclone Pam rips across south Pacific, on The Guardian, March 14, 2015: President calls for ‘helping hand’ from the world as aid workers tell of fierce impact and Australia and New Zealand prepare to mount relief efforts;

Possibility of Escape, on Zcommentaries (first on Mr Zine), by Kathy Kelly, March 13, 2015; see also: THE LIZZARD CAGE, on Karen Connelly, not dated;

Gaius Publius: Astroturf “Progressive” Support for the TPP – Meet “270 Solutions”, on naked capitalism, by Yves Smith, March 13, 2015;

Big Data’s Radical Potential, on JacobinMag, by Pankaj Mehta, March 12, 2015;

Combating the Islamic State – The Real Options, on Toward Freedom, by Immanuel Wallerstein, MArch 11, 2015;

Waiting for a solution, on Al-Ahram weekly online, by Jeremy Salt, March 11, 2015; The Middle East is littered with destroyed countries and the bodies of thousands. Will anyone take the lead in cleaning it up;

Boko Haram opens Africa to Islamic State, on Al-Ahram weekly online, by Ahmed Eleiba, March 11, 2015: With its declaration of allegiance to the Islamic State, Boko Haram has extended the reach of the jihadist group into West Africa;

NATIONAL WOMEN AND GIRLS HIV/AIDS AWARENESS DAY, on NAACP, by Bernadette Onyenaka, M.S., March 10, 2015;

New Zealand Witnesses Protests Against Trans Pacific Pact: Critics Allege TPP Is Harmful To Common Man, on International Business Times, by Kalyan Kumar, March 9, 2015;

Over 20 Trans Pacific Partnership protests in action, on New Zealand Herald.co.nz, March 7, 2015;

People, Planet, Profit – The Rise of Triple-Bottom-Line Businesses, on WorldWatch Institute, March 3, 2015;

Announcing ZSchool; ZSchool Welcomes Visitors, Students, and Faculty, on Zcomm.org, March 2015; ZSchool is a project of ZCommunications. It has four two month sessions a year. Current courses appear below. Clicking the little i to the right of each will display a description. View, as well, the box labelled Main Menu in the upper left. Click on ZSchool Curriculum and other information pages linked from there. Each course has diverse components and there are also components for the whole school – a chat, forum system, and a wiki for all students in any course also to use anytime. Those are linked immediately below. ZSchool blogs, again for all students are linked on the right side, below. Please make use of these powerful site-wide tools, as well as diverse tools specific to each course … (plus many links);

… and this:

… und noch dies:

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