As Greece collapses, the big loser is socialism

foxnews.com ^ | Stephen Moore

[RoosterRedux]

There are no “good” options for now to end this Greek tragedy. It’s best for Greece to take the least bad option, which would be forced bankruptcy. Let Greece go bankrupt. And then let this once rich nation, hit the restart button to rebuild its economy.

What I’m suggesting for Greece is what we might call the Detroit option. Put Greece under receivership and let these new authorities figure out how to manage the debt and decide who will take a hair cut – pensioners, bond holders, welfare recipients, government workers, the IMF. It’s tough love, but it’s the only way out.

I can already hear the heart palpitations of the Wall Street investors. This option puts them in the fetal position wit the thumb in the mouth. They worry about the entire world economy collapsing as creditors flee the sovereign debt of one nation after another – Spain, Argentina, Venezuala, Puerto Rico, Portugal - with obese welfare states, leaky pension systems, and declining tax collections.

But every option is worse. For six years the brainiacs at the International Monetary Fund and the European Union have devised one bailout and debt restructuring scheme after another. None of them have worked. They have only saddled the Greek citizens with even more long term debt that can’t be paid back. Greece is now sitting on $350 billion of debt. Its unpayable and the international monetary experts are deluding themselves into believing that by some magic stroke, this nation of 11 million citizens will some time in the future come up with the funds to repay it.

[exDemMom]

Young people - especially - never seem to ask who's paying for it all, or even realize that it needs to be paid for.

That is a fault of how they are raised. Too often, Mom and Dad provide everything, but they never give the kid an allowance, or teach the kid to do chores in exchange for pocket money. Thus, the kids grow up believing that stuff really does materialize out of nowhere.

The Baby Boomers did a horrible job of raising their kids.

[Pagey]

BTTT!