Today the banks in Greece are closed and they will be closed for at least a weak. The number of Euros that can be taken from the banks via ATM or other forms of withdrawals is limited to 60 Euros or about $66 a day. Business is also limited.
Those who were providing loans to Greece so Greece could make payments on their debt said no more. The situation had become even graver than it was when Europe staved on this crisis five years ago. This is the inevitable end. It is the same end Puerto Rico and Chicago are facing for the very same reasons.
The Marxists can buy the votes of the people with government handouts for only so long. The policies of the Marxist/Progressives, Socialists, and Leftists always end the same way. Look to South America to Venezuela for more proof. These policies always lead to government dependence, destitution, despair, and decay, morally, socially, and economically. Remember the Soviet States including Cuba.
The Marxist/Progressives (Democrats) will tell us this can never happen in the United States. It can and it will unless we quickly change our ways. We are doing exactly what these other people have done. Our debt is greater than our GDP just like Greece. We are borrowing money to pay debt service and interest. We spend more than we collect. We take from those who would work and give to those who would not. The Marxist/Progressives (Democrats) buy votes with government doles.
As soon as nobody will lend us money to make payments on our debt and interest, we will end up in the same place Greece is today. The difference of our default versus Greece is that our default will place the whole world in a severe economic downturn. The effect of the Greece default will be very bad for the Greek citizens but will have a limited effect on the rest of the world. The default of the United States will make the 2008 crisis look mild.
These are simple economic facts. The Marxist/Progressives will blame everybody but themselves. Greece is blaming those who lent them money in the first place. Obama will blame Bush. It does not matter; the result will be the same. Those of us who are responsible Freedom Loving Americans must use these examples to show our family, friends, and acquaintances why it is so critical we become responsible grownups now and stop drinking the nectar of the left.