I don't think it's helpful to even talk about Greece's financial problems because every country in the world is swimming in debt and due to the way the fractional reserve system works, debt grows exponentially over time. 2% inflation of an economy is considered healthy to stave off deflation. The only county in existence to ever recover from a huge national debt and get back into the black again was Britain and that was because it kicked off the industrial revolution. You can't rely on that happening again.
The financial system is fucked by the way it is designed. Banks need to loan money in order to survive. This creates money which is debt. It is inherent in the system. Every country is racing to the bottom. The system relies on an exponentially expanding economy, and all economies are driven by energy. What we're facing now is what a lot of people call the Long Emergency. Exponential curves all going in the wrong direction. Demand is increasing, cheap energy is decreasing, the capacity to pollute, the depletion of rare earth minerals, the growing population etc Unless we can do something on a par with the industrial revolution such as asteroid mining or fusion power, then what has happened with Greece will happen to every other country as well.
Thinking that this is the result of a political organisation, a political ideology or party is thinking too small. This is happening because living organisms by their very nature are Maximum Entropy Production Units.
The financial system is fucked by the way it is designed. Banks need to loan money in order to survive. This creates money which is debt. It is inherent in the system. Every country is racing to the bottom. The system relies on an exponentially expanding economy, and all economies are driven by energy. What we're facing now is what a lot of people call the Long Emergency. Exponential curves all going in the wrong direction. Demand is increasing, cheap energy is decreasing, the capacity to pollute, the depletion of rare earth minerals, the growing population etc Unless we can do something on a par with the industrial revolution such as asteroid mining or fusion power, then what has happened with Greece will happen to every other country as well.
Thinking that this is the result of a political organisation, a political ideology or party is thinking too small. This is happening because living organisms by their very nature are Maximum Entropy Production Units.
