Rabbi:Nice way to spin the Greece crisis to a slap at the GOP.
In fact it is the state unions that are the problem. The gov't is paying out far too much in terms of salaries and benefits (especially retirement, which is at age 55 or something). Additionally business formation is putrid, taxes are high and often go uncollected, and the gov't is sprawling and puts its dead hand of regulation on everything.
In other words, pretty much where obama wants us to be in 2 years.
Would you agree "Throughout Europe and in fact throughout the world, tax collection is intensified to guarantee payments on bonds underwritten by (private) banks as devices for sucking the earned income out of the economy."
"These bonds are actually tantamount to the Privy Purse; they are direct feudal payments to an oligarchy of absolute rulers by divine right. They take precedence over all other obligations foreign or domestic.
"These bonds are usually tax exempt to induce rentiers to buy them because of the 'risk' they entail."
Most government bonds are not tax exempt.
Most government bonds are not owned by "the rich." They are owned by large institutions that act as intermediaries and repositories for individuals who save, i.e. pension funds, mutual funds, insurance funds, etc.
Plus, governments have defaulted hundreds of times over the past two centuries, so they clearly do not take precedence over all other obligations.
Thus, your premise is incorrect.
Rabbi is right. Greece is a basket case. It must reform.
Our country must also reform, otherwise we are going to have a similar crisis in the future.
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