Comments about ‘Big fat Greek garage sale: Everything must go as Greece sells its treasures’

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Published: Wednesday, Sept. 26 2012 12:47 p.m. MDT

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Economist
Salt Lake City, UT

Preface: I need to make a cogent economic point before the conservatives and wild eyed tea party enthusiasts go off the rails about the failures of socialism and how Obama will lead us "forward" off the fiscal cliff where Greece is currently standing.

Backstory: I've been pointing out over the past several years about the systemic inequities inherent in the Euro Nation States means of production and their respective cultural attitudes eventually led to this cataclysmic event. I've argued for months now that the Euro should be terminated while the member trade agreement stay intact (this includes the free mobility of labor from country to country).

My Point: What we are witness to is not a result of socialism in general - Germany has universal health care and near-free college tuition borne on the backs of the taxpayer - but wages and pension growth at the expense of leveraging that nation's future productivity. It is in my opinion that Greece AND Span Default on its sovereign debt, leave the Euro, and start over in it's own currency. Argentina did it over IMF Loans and it worked out fine.

SME
Bountiful, UT

re: Economist

Very good points.

Yet when we are running trillion dollar deficits yearly, and have a cumulative deficit equal to our entire GDP, how can you look at that any way except that our government is growing at the "expense of liveraing our future productivity".

KDave
Moab, UT

Another good reason to transfer title of Fed lands to Utah. The Fed Govt. is heading for the fiscal cliff, Utah is sound fiscally. Unfortunately we would still lose all the National Parks in the "fire sale".

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