Didn’t want to start a new thread…
So the Greeks are rioting because their government benefits are being cut.
It begs the question what they are trying to achieve. Do they think they can keep consuming twice as much stuff as they produce if only they convince their government to keep handing out free money?
Where exactly are those goodies going to come from, in a country where 11 million citizens live off 3.5 million taxpayers? Have they ever wondered whether it may be physical reality they are up against, and not sheer unwillingness by the state to hand out more goodies?
Whether it is Americans and their out-of-control public deficit or Greeks rioting for benefits that plain aren’t there, at some point they all have to face the fact that money is just an allocation mechanism. Their problem isn’t monetary, so the solution isn’t monetary. The reason they are in debt is that they are consuming more stuff than they are producing. The only way to not be in debt is not to consume more stuff than they produce.