Greed and Capitalism

What kind of society isn't structured on greed? The problem of social organization is how to set up an arrangement under which greed will do the least harm; capitalism is that kind of a system.
- Milton Friedman

Friday, February 17, 2012

Reverberations of the Mortgage-backed Securities Meltdown

 
Governments everywhere are raising taxes, cutting benefits, privatizing public resources, slashing basic services, etc., to pay the current Worldwide estimated $1.5 Quadrillion of fraudulent Derivatives (the Bubble at the heart of Financial Crisis) bailout that no one can pay....

The poster sensationalizes what is a real problem that is coming to a head in Greece at this time. Greece's problems have exposed the European Union's weakness of using a single currency - the failing economies are unable to use currency devaluation as a solution to their financial implosion tilting the balance of the whole of the European Union and forcing Germany and France to bail-out their partners.   The citizens of Germany and France do not like paying for Greece's fiscal mismanagement and the Greek citizens have no desire to be dictated to and being forced to "tighten their belts" by the cutting and slashing services and salaries in the public  sector and so on.




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