The nation of Greece has fallen to its knees in the wake of a total financial collapse. Now, the once-proud nation has gone hat-in-hand to the International Monetary Fund (IMF) for bailout assistance.
Greece has found itself in a financial death spiral brought on by years of amazingly irresponsible deficit spending as is often done by countries that adopt socialism and/or socialistic-styled programs. In spite of the knowledge that there is no such thing as financial perpetual motion, socialistic-leaning governments continue spending money they don’t have—to the detriment of their own economies.
What are some examples of their deficit spending? In keeping with common socialistic thought, the common and working-class people should have the right to the life styles and pleasures enjoyed by the well-to-do. As a consequence, Greece set out to artificially elevate the Greek standard of living. The idea that being able to pay for increased salaries was not considered. With the stroke of a pen, salaries were simply raised to the tune of about 30% since 2006. However, additional salaries were not enough. Annual bonus payments were also implemented and paid out as 13th and 14th month salaries.
Then, there are holidays and vacations. Greece implemented a statutory minimum number of days off for its Greek workers. Employees were entitled to a minimum of thirty-seven days of paid leave which was required and mandated by law. In comparison, the United States does not place any statutory minimum holiday allowance requirements on employers.
In order to protect its workers, Greece instituted a law restricting a company’s right to fire and/or lay off employees in times of hardship. The maximum number of employees that a private company could lay off was set at 2%. The average age of retirement was a rather young age of 61, with many in the public sector entering retirement in their 50’s. The pension that a worker received after retirement reflected their wage being drawn at the time of retirement. And then, there was a common and out-of-control problem with tax evasion. To help pay for many of the above perks, income tax was relatively high. Consequently, many, if not most Greeks were involved in some sort of tax-evading methods.
So, Greece’s addiction to spending more than they were making finally caught up with them. Consequently, begging for assistance was the only option left. It doesn’t take a rocket scientist to understand that it is the lender who has the upper hand. Greece’s only hope of survival is to accept a bailout along with a long list of attached strings and demands. Europe, in partnership with the IMF has offered to come to the rescue of the floundering nation of Greece. If Greece wants to accept the help being offered by the world community, they will have to obey certain demands. There will have to be an across-the-board freeze of wages. Some wages must be slashed. Income taxes must be increased even more. Huge cuts must be implemented tin Greece’s public sector, including the elimination of contract workers. Private companies must be permitted to increase the number of employees they can lay off, from 2% to 4%. The age of retirement must be raised, and pensions must be reduced to reflect a worker’s average pay rather than their final pay. Consumption taxes must be increased on alcohol, fuel, cigarettes, etc. Construction projects must be taxed. People must be removed from public payroll, and tax evasion must be eliminated.
What are the consequences of a nation being bailed-out by other nations? It all boils down to a loss of sovereignty. The nation of Greece will no longer be able to call its own shots. Greece will have to seek approval from the world for almost anything it does. It may sound like the requirements being placed on Greece are a move back toward privatization and capitalism. However, control is what the one-world movement wants. Once world control is established, then socialistic mandates are sure to be reinstated, while the floundering nation remains under world control.
Comparisons can be drawn with the United States. Our leaders implemented large-scale bailouts for many giant companies, including AIG, Fannie Mae, Freddie Mac, GM, Chrysler and many large banks. In doing so, the United States has spent billions and billions of dollars it doesn’t have. In order to spend money you don’t have, you must borrow that money. Who have we borrowed from? At the end of the first quarter of 2010, the U.S. public debt was 87% of GDP. Now, for the bad news. In 1988, only 13% of our debt was owned by foreign governments. In 2007, it doubled to 25%. In 2009, that number has skyrocketed. China and Japan alone, own 44% of the American debt.
Like Greece, the powerful United States may someday find itself bound to comply with the demands of the world community. That is when a one-world government will be able to begin taking control of the entire world. The agents of humanism have been working toward that end for many years. The Fourteenth Affirmation of the First Humanist Manifesto says: …profit-motivated society has shown itself to be inadequate…A socialized and cooperative economic order must be established to the end that the equitable distribution of the means of life be possible.
The Twelfth Affirmation of the Second Humanist Manifesto says: We deplore the division of humankind on nationalistic grounds. We have reached a turning point in human history where the best option is to transcend the limits of national sovereignty and to move toward the building of a world community…
The Closing Statements of the Second Humanist Manifesto says: …(the) goal for humankind…(is) for each person to become…a citizen of a world community.
It is time for the U.S. electorate to wake up and put representatives in office who have a drive to keep America sovereign. Much of that will be predicated on reducing or eliminating foreign-held debt. The only way to keep debt under control is to spend only what we have. What a smart idea. Our government should act the way its private citizens have acted since the very beginning.
Greece has found itself in a financial death spiral brought on by years of amazingly irresponsible deficit spending as is often done by countries that adopt socialism and/or socialistic-styled programs. In spite of the knowledge that there is no such thing as financial perpetual motion, socialistic-leaning governments continue spending money they don’t have—to the detriment of their own economies.
What are some examples of their deficit spending? In keeping with common socialistic thought, the common and working-class people should have the right to the life styles and pleasures enjoyed by the well-to-do. As a consequence, Greece set out to artificially elevate the Greek standard of living. The idea that being able to pay for increased salaries was not considered. With the stroke of a pen, salaries were simply raised to the tune of about 30% since 2006. However, additional salaries were not enough. Annual bonus payments were also implemented and paid out as 13th and 14th month salaries.
Then, there are holidays and vacations. Greece implemented a statutory minimum number of days off for its Greek workers. Employees were entitled to a minimum of thirty-seven days of paid leave which was required and mandated by law. In comparison, the United States does not place any statutory minimum holiday allowance requirements on employers.
In order to protect its workers, Greece instituted a law restricting a company’s right to fire and/or lay off employees in times of hardship. The maximum number of employees that a private company could lay off was set at 2%. The average age of retirement was a rather young age of 61, with many in the public sector entering retirement in their 50’s. The pension that a worker received after retirement reflected their wage being drawn at the time of retirement. And then, there was a common and out-of-control problem with tax evasion. To help pay for many of the above perks, income tax was relatively high. Consequently, many, if not most Greeks were involved in some sort of tax-evading methods.
So, Greece’s addiction to spending more than they were making finally caught up with them. Consequently, begging for assistance was the only option left. It doesn’t take a rocket scientist to understand that it is the lender who has the upper hand. Greece’s only hope of survival is to accept a bailout along with a long list of attached strings and demands. Europe, in partnership with the IMF has offered to come to the rescue of the floundering nation of Greece. If Greece wants to accept the help being offered by the world community, they will have to obey certain demands. There will have to be an across-the-board freeze of wages. Some wages must be slashed. Income taxes must be increased even more. Huge cuts must be implemented tin Greece’s public sector, including the elimination of contract workers. Private companies must be permitted to increase the number of employees they can lay off, from 2% to 4%. The age of retirement must be raised, and pensions must be reduced to reflect a worker’s average pay rather than their final pay. Consumption taxes must be increased on alcohol, fuel, cigarettes, etc. Construction projects must be taxed. People must be removed from public payroll, and tax evasion must be eliminated.
What are the consequences of a nation being bailed-out by other nations? It all boils down to a loss of sovereignty. The nation of Greece will no longer be able to call its own shots. Greece will have to seek approval from the world for almost anything it does. It may sound like the requirements being placed on Greece are a move back toward privatization and capitalism. However, control is what the one-world movement wants. Once world control is established, then socialistic mandates are sure to be reinstated, while the floundering nation remains under world control.
Comparisons can be drawn with the United States. Our leaders implemented large-scale bailouts for many giant companies, including AIG, Fannie Mae, Freddie Mac, GM, Chrysler and many large banks. In doing so, the United States has spent billions and billions of dollars it doesn’t have. In order to spend money you don’t have, you must borrow that money. Who have we borrowed from? At the end of the first quarter of 2010, the U.S. public debt was 87% of GDP. Now, for the bad news. In 1988, only 13% of our debt was owned by foreign governments. In 2007, it doubled to 25%. In 2009, that number has skyrocketed. China and Japan alone, own 44% of the American debt.
Like Greece, the powerful United States may someday find itself bound to comply with the demands of the world community. That is when a one-world government will be able to begin taking control of the entire world. The agents of humanism have been working toward that end for many years. The Fourteenth Affirmation of the First Humanist Manifesto says: …profit-motivated society has shown itself to be inadequate…A socialized and cooperative economic order must be established to the end that the equitable distribution of the means of life be possible.
The Twelfth Affirmation of the Second Humanist Manifesto says: We deplore the division of humankind on nationalistic grounds. We have reached a turning point in human history where the best option is to transcend the limits of national sovereignty and to move toward the building of a world community…
The Closing Statements of the Second Humanist Manifesto says: …(the) goal for humankind…(is) for each person to become…a citizen of a world community.
It is time for the U.S. electorate to wake up and put representatives in office who have a drive to keep America sovereign. Much of that will be predicated on reducing or eliminating foreign-held debt. The only way to keep debt under control is to spend only what we have. What a smart idea. Our government should act the way its private citizens have acted since the very beginning.
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