Kristian Niemietz upsets readers of the left-leaning Independent:
I am amazed by how the British left has managed to convince themselves that Syriza somehow represented a break with “neoliberal politics” in Greece… After three and a half decades of economic statism and hyperinterventionism, how exactly is a party that stands for economic statism and hyperinterventionism a “break” with anything? […] The Greek economy had become a rent-seeking economy, in which economic activity is not about creating wealth, but about extracting wealth from others through the political process. If you’re afraid of dog-eat-dog capitalism, you haven’t seen dog-eat-dog socialism yet.
So the Greeks voted no to austerity, but a full on yes to POVERTY.
I wasn’t aware that the Greeks were taking the Franciscan vow of poverty so seriously. Surely, they will be donning sack cloth and ashes at any moment.
Moreover, they will all be praying for ‘responsible government’ to finally emerge after a 40 year hiatus of profligacy spending, which would embarrass and shame a drunken sailor.
So the Greeks squandered their inheritance and wonder why they are tending Hellenic swine…!
Cheers
Hans Rupprecht, Commander in Chief
1st Saint Nicolaas Army
Army Group ‘True North’
at least dog eat dog capitalism produces wealth and many benefit. dog eat dog socialism just eats the dog after producing nothing and leaving the people in debt.
Great line: “If you’re afraid of dog-eat-dog capitalism, you haven’t seen dog-eat-dog socialism yet.”
What gets me with all this, is how did it get this far?
Whatever happened to bankers taking a look at an entity’s balance sheet and behaviors and starting by raising interest rates, calling in old loans when the entity starts looking flakey, refusing to lend as much as requested, and generally sending clear signals that ” you must change your ways, moron”.
Also whatever happened to Governments looking for the long term national interest a little longer term than “the next election, I MUST get re-elected”
I have next to no sympathy for the greeks as a group or the greek government, but the bankers and other enablers, my sympathy is net negative. If you lend money to a drunk or an addict, and expect to get that money back, you are a willful idiot and deserve no sympathy.
Fred2, I think governments have too much control over the banks.