Athens – Truth & Consequences
Spent 5 days in Athens, Greece and left impressed with the people and place, …and impressed upon the consequences of a corrupt and incompetent government.
In Greece, they have had recession for 8 years running. Controls have instituted: People can only withdraw a max of 450 Euros per week from their own bank accounts. No foreign company invests because it’s too hard or impossible to get your money back out. You can use your credit card all you want, with a 3.5% VIG to the State Bank. Nice.
People hanging in there. In a locat tavern a guy summed it up when he told me ” We have been here for 5000 years…. and will be so for another.” So they just keep it moving.
Watch 58 sec Vid before I go on:
Why like this?
Greece, for years, had been running up the debt, squandering money with nothing sustainable to show for it. Books being cooked.
Conclusion: At some point, if a country doesn’t manage the finances better, the hens will come to roost, my friend.
These are the things I think about the day after the election.