Understanding the Greek Economic Crisis…or is it Chicago?


Don’t gloat.   Coming to a town hear YOU! You think malfeasance  isn’t happening where YOU live?

https://www.google.com/#q=California+Town+bankrupted+by+corrupt+officials. This is about Vernon California. apparently, their neighbors saw these guys getting away with  this, so: https://en.wikipedia.org/wiki/City_of_Bell_scandal.  This is about Bell, California, where the town rulers, elected officials, bankrupted the town before the feds could save it.  You have to remember that lots of  actions are legal if they are not illegal. While we  are supportive of laws chasing drug dealers and addicts around,prosecuting welfare and food stamp fraud…. keeping lawyers employed—we are ignoring the important stuff …because it is boring until WE  get pummeled.

I was listening to an economics professor on the radio talk about what the problem is in Greece.  He said the Greek people aren’t lazy, but their  socio/political system is so inefficient, most Greeks work  2 jobs. He also  claimed that it wasn’t because  Greeks didn’t pay taxes—as the wealthy in all countries get away with not paying taxes.  However, in the USA & much of Europe, there has been a huge middle class that pays property taxes.  This is not the case in Greece, or many countries (it was not the case in Malawi when I was an urban planner in Blantyre in  the early 1990s, nor was it in Egypt—where  people were allowed to occupy unfinished buildings and not apply for  occupancy permits…so not be on the tax rolls).

The economics professor claimed Greece was in trouble because the European (etc) investors continued to  prop up banks making bad loans.  Bingo!

Sound familiar?  Did any bankers go to jail when they did that to  the USA in  2008 at the end of Dubyas years? https://en.wikipedia.org/wiki/Inside_Job_(2010_film)  Charles Ferguson’s  2010 documentary reminds us that—no—we Americans footed the bill.  Puerto Rico is going through the same thing (albeit partly because of being overly generous to her citizens)., but I live in Chicago, where our aldermen and state senators ‘borrowed’ from public employees  pension funds ( http://catalyst-chicago.org/2015/07/roots-of-the-chicago-teacher-pension-crisis/) for fripparies:  rodeos,  chandeliers, offices, statues, junkets….and never paid it back— or never put the $$$ in in the first place—taxes we paid!!! & we  stupid citizens not only have to pay AGAIN—but the assholes who did this are now receiving pensions themselves!  Here is the  right  wing take on our situation:http://www.americanthinker.com/articles/2015/07/how_democrats_pillaged_chicago_toward_bankruptcy.html  It’s not just the patronage army, it’s our politicians.

In the past…before the internet…when things got so dire…there were revolutions.  This is how the socialists came to power in many places.  This may seem far afield, but Bernie Sanders and Elizabeth Warren  keep calling for reforms.  The only way to  fight the  malfeasance is un-elect the  rascals and get ourselves a new set of rascals…and as citizens…support the government watchdog agencies and cut politicians pensions.

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