Should Busted Greece - WSJ.com
Think where all the money really went?
In other words, unions and labor laws are part of why the economy isn't growing and there are too many public employees (almost totally non-productive) and too much is going out in entitlements and retirement benefits.
And, money is borrowed from savers and spent by non-producers. So, don't blame the bankers, blame the politicians and those they dole out the taxpayers and lenders money too.
All these western democracies have allowed a build-up of entitlements, etc. that the economies can't support. The politicians would rather have the lenders blamed because they won't lend anymore. They certainly don't want to blame themselves and those vast members of the public who've been led to believe there is a 'free lunch'.
Suddenly, people are finding out there is a bill due for that free lunch and they can't understand why things 'have-to' change. Which is understandable, but doesn't solve the problems at hand.
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