SEED CORN AND THE GREEKS: An Economic Coma - WSJ.com
Wouldn't it be better if the economic policies supported 'job growth' and 'investment' rather than 'transfer payments' and 'entitlements'.
Your comments somehow remind me of the average American experiencing the euphoria of rising housing prices in the recent bubble. They never thought about what would support this ever-rising pricing with no constraints on supply!
Likewise, it would appear as though you don't realize how fiscal policy and tax policy and regulations impact decisions to invest and create jobs.
As a result, we have a Greek-like economy run by Greek-like politicians. Lots of company doesn't mean these politicians will lead their citizens to a better life in the future nor the ability to sustain what they think they have now.
It's like the old story of 'seed corn'. The one who saves it has it for the next planting season. The one who doesn't feels nothing wrong with taxing away what the saving farmer has left.
Again, not unlike the Greeks. They retire at 50 on lavish pensions and believe in government jobs where people don't even have to show up for work to get a paycheck. Meanwhile the hardworking, prudent Germans have a good economy so the Greeks thing the Germans 'should pay' the Greeks.
Sunday, June 5, 2011
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