Home > conservative, economics > Greeks Continue to Riot After Realizing Monopoly Money Isn’t Real

Greeks Continue to Riot After Realizing Monopoly Money Isn’t Real

Paul Krugman should take note. See, a country can’t just keep spending itself into oblivion.  Greece, as you all know by now, is out of money.  In fact, it is so broke, that it’s close to going into debt default.  So, it’s doing what it should have done a long time ago…it’s cutting spending.  Of course, some people will react with shock and dismay when they’re told that their ridiculous government pensions aren’t sustainable.  Instead of being adults and realizing that money doesn’t grow on trees, however, some of those people riot.

Others are a little more rational.  Instead of rioting, they simply go on strike.  While choosing a more peaceful option than the rioters, the strikers exhibit the same confusion over the source of their salaries.

“We are faced with almost the total destruction of Greece’s social security and labor system,” Spyros Papaspyrou, chairman of ADEDY union for civil servants, said by telephone before the march. “We remain committed to this struggle.”

Doesn’t a “struggle” imply that you have some slight chance of being successful?  Spyros, your government, and employer, literally doesn’t have any money to pay you.  I’m sure if you wanted, you could work for free, or maybe even get paid in gyros.  That would help.

This is what happens when certain portions of the working population don’t understand where the money that pays their salaries comes from.  This is also what happens when governments share the same confusion.  Only the private market actually produces wealth.  Governments, and by extension their employees, only take it.  Hopefully the current administration is paying attention to the real world in Greece, and not Krugman’s classroom.

  1. June 30, 2010 at 12:07 AM

    Great Krugman reference on the Greek riots / debt crisis. I have written of this linkage many times under “Fauxiconman”, what a hack that guy is.

  2. it's me
    June 30, 2010 at 12:34 AM

    mmm get paid in gyros, sign me up

  3. Mary
    June 30, 2010 at 8:18 AM

    Ah the Greeks. Seems like only a few weeks ago that they were setting fires to banks and actually burned a pregnant woman to death. Oh wait. That was only a few weeks ago.

    You hope someone in our government is paying attention? I’m sure they are, if Obama’s instructions to the other nations (spend spend spend) is any indication. Problem is, they are paying attention to Krugman who, apparently, is living in an echo chamber.

  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: