Black Lives matter shuts down Bernie

[Benton]

(08-15-2015, 12:20 AM)jakefromstatefarm Wrote: Yeah....

Greece was part of the euro zone, so investors mistakenly thought that government bonds issued in euros were somehow safer — and deserved lower interest rates — than old Greek bonds in drachmas. Since Greek banks paid higher interest rates and capital was free to flow across borders, capital flowed into the country at a rapid pace.


Banks with swollen deposits made loans fast and loose, which turned out to be a problem when the property craze crashed.

...

In order to get the bailout bucks from the troika, Greece had to agree to cut government spending on social programs, pensions, and employees, as well as raise taxes and actually go about collecting taxes.

The Greeks cut social programs, as well as government pensions and employees. As for going after huge tax evaders and reforming business dealings that rewarded a small circle of the very rich… not so much.

http://economyandmarkets.com/markets/foreign-markets/greeces-economic-trouble/

This was actually a pretty well thought out post. Good job.

But you get to the end and contradict yourself, which brings up my original point of 'you should read up on the situation.' Either a- you didn't understand what was going in Greece or b- you don't understand trickle up, the theory that more money going to a majority of the people means they will spend more money, creating higher gains at the top.


Or maybe you do understand both, but you're failing to tie in how trickle up was done by cutting money in the middle (social programs, pensions, employees) and leaving the money at the top (tax evaders, business dealings for the very rich). What you're describing as their failing is closer to trickle down, not trickle up. 

Mulligan on this one?