You are viewing a single comment's thread.

view the rest of the comments →

0
2

[–] FreeSpeachRocks [S] 0 points 2 points (+2|-0) ago 

Good analogy.

Perhaps a better one is do we blame the addict or the pusher? Clearly the addict needs help getting over his addiction. We may or may not choose to help. The pusher, on the other hand, tends to be the scourge of society. Not particularly someone we want to associate with.

0
1

[–] 1131167? 0 points 1 point (+1|-0) ago 

And how do we assist the addict? Rehab, where they do not allow them to have any of what they were addicted to at all. Kind of like austerity.

1
-1

[–] FreeSpeachRocks [S] 1 point -1 points (+0|-1) ago 

Rehab often involves less toxic substitutions to ease the withdrawal. Compares the coupon rate on the Greek Debt to current interest rates. The Banks haven't begun to take a shave.

Fixing this problem certainly requires a migration to fiscal responsibility. Yet fiscal responsibility is a learned behavior, particularly when it comes to consequences that come due 30 years later. Unfortunately many people have been advocating fiscal irresponsibility for a long time. Remember that Keynes scoffed "in the long run we're all dead". Well here we are. He's dead and the Greeks are being held accountable for following his (and others) advice for too many generations.