The Mudcat Café TM
Thread #157574   Message #3719911
Posted By: GUEST
29-Jun-15 - 07:30 PM
Thread Name: BS: Greece in meltdown? What do you think?
Subject: RE: BS: Greece in meltdown? What do you think?
That was my experience too. I suddenly couldn't afford to travel to Greece, not because they had suddenly become an industrial powerhouse, but because they were in the same economy with wealthy northerners. And it seemed like they were borrowing heavily from outsiders and using the borrowed money to pay outsiders to rebuild the country in a more high-tech mold. Not that they should be poor just so I can vacation there, but they didn't suddenly create the economic basis for that radical increase in the cost of living. All the new airports and highways and Olympic stadiums had a price they couldn't really afford. Now they're paying for it, just as our children will pay for our reckless military spending coupled with continual tax cuts for the rich.