Shameful Greek Tragedy
I put the Greek Tragedy on this week's Weekly Walk of Shame. And what horrifying footage to wake up to this morning, when I turned on the TV. Awful. Of course, this walk of shame is also that we shouldn't ignore the similarities in terms of the core problem, as it's arguably right here at home too. Our own government's out-of-control spending was shameful and unsustainable several years ago and it has only continued as folks like Krugman pooh-poohed "deficit hysteria" not so long ago, if I recall correctly. I still feel there's something (a lot of things) to be pretty hysterical about in this regard. (Not to mention we may be stunting private industry with some of the recent government actions, and still hinging misguided hopes that consumers will take on more debt to spend again when they never really dug themselves out of the original debt hole to begin with...)
And I know there are others out there who are pointing out the dangerous correlations right now, with so many overly indebted countries in precarious situations. I've been catching cautionary outlooks in lots of well-known experts' comments on the situation in Greece and the Eurozone. And I've enjoyed binve's posts on the topic too right here in the CAPS community. But it did move me to also write a piece on this, that this isn't just "over there."
One thing's for sure, we live in "interesting times."