Monday, October 24, 2011
Oh what tangled web we
weave when we practice to deceive.
I was looking at the Greek debt problem trying to figure out just what caused all the commotion that you've seen in the news lately. Although I must admit it too like the occupy movement is getting shoved to the back burners of main stream media. So I did some digging but first pondered the reasons an entire country would go into default. My first thought was that they too had been sucked into our black hole of mortgage backed security con game. That did seem a logical choice for a country that had had the highest GDP figures of any country on that side of the world for years running. How wrong I was. After further review as the ref says in football I see that much of the countries wealth is neatly fleeing the country into Swiss banks. Now I don't know about you but I don't have the funds to hide them with the Swiss. So those doing this dirty deed are the top 1% of Greeks. The country's tax revenues are short by 49% because those at the top don't want to pony up their fair share. It is reported that these top 1% own some 10,000 companies off shore and pay no taxes (sound familiar?)
At last count the Greek debt is something like 200% of their GDP as of this writing. And just what was the government response to their predicament? Oh no they wouldn't think of inconveniencing those that have so much they don't know what to do with it. Their government slapped the poor and under classes with the highest taxes any nation has seen in recent history. Taxes on gas and electricity and goods and services. And when that wasn't enough a new round and yet more taxes were put on homes by the square meter. But the tipping point was in my opinion when pensions were slashed causing many retirees to go without health care. I'd guess that they have to pay a bit into the system to be covered. So what you see in the streets of cities like Athens is the result of these measures and it's not because working people are overpaid or lazy as some would have you believe.