Greeks Vote No: Keynesian Crisis Continues

[jct74]

https://www.youtube.com/watch?v=yCUjMjQ4BxY
https://www.youtube.com/watch?v=yCUjMjQ4BxY




Sunday's surprisingly strong "no" vote may be less significant than Greek voters think. There is no way to vote oneself out of such a debt burden. Liquidation and bankruptcy are likely the only solutions.

[Peace&Freedom]

Sunday's surprisingly strong "no" vote may be less significant than Greek voters think. There is no way to vote oneself out of such a debt burden. Liquidation and bankruptcy are likely the only solutions.

Since almost everyone understands it was impossible for Greece to pay off a debt that is 177% of its GDP, much of the blame has to go to the creditors who willfully created the unrepayable bad debt to begin with. The crisis is not so much the Greeks can't pay the debt, to cite Max Keiser, the issue is that Germany and the euro banks can't collect the debt. Perhaps the Icelandic solution is in order--repudiate true odious debt, beat back the use of the debt to rob the country of its basic resources and sovereignty, jail the banksters who created a mess designed to turn an entire people into debt slaves via taxation.