May 11 2010
Rich Western nations like ours can’t expect to keep their place in the world if they stop paying their bills. The Greeks may be the worst of the lot, but that’s only a relative statement. As a nation, it’s time to grow up, take ownership of our finances and stop the insanity of piling up ever-increasing debt. Unfortunately, politics gets in the way of a solution.
From my latest article in The Mark, Greece and Irresponsible Economics:
Plenty of deluded souls on this side of the Atlantic have the same weird notion that someone else ought to be taking care of the cheque. Canadian national and household debt is at record levels. South of the border, the problem is even worse, and the Americans can’t even blame their debts on a welfare state, unless you mean corporate welfare.
Where’s the shame? Where is the national sense of humiliation?…
The elected leader of every western nation ought to tell it straight to the people who elected them:
“Look, friends, we’re mortgaged to the hilt. We can’t pay our bills. We’ve been acting like first-class moochers, and it’s gotten beyond embarrassing. Pretty much the only people who can still lend to us are human-rights-stomping totalitarians and oil-rich exporters of jihad. We’re going to have to cut back… Way back. This is going to hurt. But the party is over.”
SHAMELESS MEDIA PLUG ALERT
As an added bonus for readers who liked this article, you may want to tune in to Murray Langdon‘s radio show on CFAX 1070 out of Victoria on Wednesday, May 12 at about 11:50 am, as I talk on the radio about this critical issue. Cheers.