OK, maybe the title of this post is exaggerating things a bit. Maybe the economic woes of Greece won’t spill over to its euro neighbours and, in falling domino style, to the rest of the world.
But maybe it will. On Monday, stock markets fell, and economists were nervous. The situation in Greece was headline news on some national newscasts. In Montreal, local Greek businesses with ties to the homeland are worried, apparently.
Clearly, a lot of people are worried around the world. One of the bricks in the wall is crumbling. What to do?
Personally, I have long held a vision of a day when all debt is written off — the debt of nations and that of individuals. After all, it is only numbers on paper — abstract numbers.
It is time to reset the world’s economic odometers, and overhaul the economy.
Yes? No? Ideas?
Well, actually, if you write off debt the folks who invested that money will lose everything. That includes mom & pop, grandma, your church, local governments and educational institutions, foundations, retirement funds, art institutions, and everyone else that has invested money that wound up financing irresponsible governments, corporations and individuals.
Remember Enron? Money disappeared and people’s lives were devastated (and still are!). How about retirement funds that failed when unions collapsed (after raiding the funds)?
The only thing you can be sure of is that the international mega-corporations and Koch brothers of the world will remain untouched.
There’s no free ride in this world. Those numbers represent enormous wealth which, if removed from the economy, will hurt the little guy far more than the wealthy.
There has to be a better way to handle things, but just hoping that the problem will magically go away isn’t going to work. 😦
So, here’s a thought: Since it is all about abstract numbers on papers, the investors wouldn’t have to lose anything because we can could increase the numbers in their bank accounts with the stroke of a . . . keyboard. Do you understand what I am getting at?
Here’s another idea: a world without money. It may have served its purpose.
I think we know why Games of Thrones is so popular. Or Planet of the Apes(1968)? The only image that stays is when Colonel Taylor(C. Heston) sees the Statue of Liberty sticking out of the sand and collapses in grief. News flash: http://tinyurl.com/pqa6men Or maybe the big one out in the Valley? The rich have been with us for millennia. don’t think it’s going to change for millennia to come. There will always be some people who want to ‘wheel-and-deal’ or have it all. Sad but True. On this light note, Happy Canada Day. At least you get a day off work, Pleb! |D