Are there Implications for America in the Economic Collapse of Greece?
“A democracy cannot exist as a permanent form of government. It can only exist until the majority discovers it can vote itself largess out of the public treasury. After that, the majority always votes for the candidate promising the most benefits with the result the democracy collapses because of the loose fiscal policy ensuing…”
~ Elmer T. Peterson
With the Greek financial debacle starting to unwind, we will see yet another nation forced to make some very tough choices about which promises they will fail to honor. Whether it is default to the International Monetary Fund, the slashing of the pensions of government retirees, or running the printing press until the currency is valueless on the international stage, these are not simple complications with clean answers. Regardless of how they choose to deal with the issues associated … Read more »Continue