October 22, 2010


Greecing the Wheels of an Economy

A while back, I blogged about the fallout of the recession on some of the world's economies. The first one I ever fed you was from Vanity Fair's Michael Lewis, about Iceland. I don't know if you bothered to click, but here it is again. It really is awesome. Oh go on, it's the weekend, what else you have to do? Rake leaves? Anyway. If you haven't already, read about Iceland's gnomes. Or dwarfs. Or something. And how all the fishermen decided to become investment bankers and buy Range Rovers. Oh, guess what? Fisherman don't know squat about investment banking.

Now, many didn't know it at the time, but Iceland was only the tip of the iceberg. Hahaha. Joke. Anyway, Michael Lewis has done it again, writing an excellent piece, this time on Greece. Oh my. Seriously. You have to read this to believe it, and Lewis is a terrific writer.

The Greek government has an accounting system that resembles my son's. The concept of money and responsibility is all Greek to him. Geez, I'm just cracking myself up tonight. I am so tired. But I digress. The Greeks have this house of cards banking system that has been thrown under a bus by the government. They keep leaving things off their budget estimates, like annual billion dollar pension plans. The whole economy is predicated on bribes and tax dodgers and craziness. They are in debt a quarter of a million dollars per every working person in the country. And of course, the rest of the European Union is a little crabby with them, especially those uptight Germans. But, go read. I don't want to wreck it for you.

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1 Comments:

Anonymous Anonymous said...

If Italy invaded Crete from behind, would Greece help? (joke)

October 23, 2010 1:24 PM  

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