Saturday, July 18, 2015

Downward Economic Spiral Will Force Another Greek Bailout

News
As long as leadership, supported by the majority, incorrectly view Greece and its economy as an isolate economy (system) within the highly interconnected global economy, we'll likely see old ideas, the policies of austerity - taken from the principle of balanced budgets of the Hoover Administration during the early stages of the Great Depression, repacked as solutions to economic problem that does not improve over time. This is why real change, not the illusion of change through fancy words offered by the Syriza government, comes only after the crisis. The crisis comes about two seconds after the global majority realizes that the Germans refuse to participate in the next bailout. Another bailout is coming.

Headline: Greece's economy could shrink by another 4% this year

Shattered business confidence, a three-week bank shutdown and capital controls have already guaranteed another year of recession in 2015. That means the economy will have contracted for seven of the last eight years.


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