Friday, January 13, 2012

PARENT-CHILD ANALOGY: Markets Bet on Greek Debt Deal - WSJ.com

Markets Bet on Greek Debt Deal - WSJ.com

Somehow the whole issue of getting growth going in Europe such that the broader sovereign debt problem is diminished, if not resolved, is like looking at an issue by certain participants as 'children', while others can see the economic issues as 'adults'.

Thus, like children, some politicians and citizens approach their economic decision making based on 'wants' - with no relation to the ability of the (parents) government or society to pay these costs; or, the consequences to the society and economy of providing for these wants.

Until these 'children' grow up, its hard to see growth and balance returning to Greece or other countries, such that debts actually can be paid.

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