About Eeyore

Canadian artist and counter-jihad and freedom of speech activist as well as devout Schrödinger's catholic

One Reply to “How much is an old Greek Earn?”

  1. The world economic crisis was caused by the socialist governments pushing the idea that all you have to do is tax the people who produce real goods and make a living and then spend this money on the people who do nothing. This is an over simplification of what happened but no one including me wants to set down for a long article about how the economy works.

    1) you come up with an idea to start a business.
    2) you either save the money or borrow the money to start the business.
    3) you work 12 or more hours a day making a success of the business so you can pay off the loans.

    That is how things are suppose to work but under our socialist systems they are instead

    1) you come up with an idea to start a business
    2) you spend years fighting the bureaucracy to get the permits to start the business.
    3) your taxes are so high you can’t save money so you are forced to borrow the money.
    4) the government economist tell you that rather then pay off the loan just pay the interest so you can expand your business.
    5)the economy takes a down turn and the people who used debt financing (never paying off the loans, or taking out new ones when the old ones are paid off) go broke.
    6) the banks move to protect their depositors by foreclosing on the business.
    7) the leftist start screaming about the greedy bankers and protest.
    8) the banks stop foreclosing because of bad publicity
    9) the banks fail and everyone loses.

    Now apply that to the national governments and you will find that debt financing works (somewhat) when the economy is expanding but fails when the economy is contracting or holding still. The socialist program of robbing Peter to pay Paul only works when things are good, and eventually the tax burden gets so bad the producers stop producing. We are at this stage now but the welfare recipients are refusing to take cuts in benefits thus condemning us to a major world economic collapse. One that will be on a scale that most people can’t imagine.

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