Greece- Will the IMF Get Your Money?

“Why should they?” You might ask.

If you read just the first 100 pages of Creature from Jekyll Island, you’d understand the question. The IMF, like the Federal Reserve bails itself out by shifting debts to the taxpayer. Yes, Greece is a long way away and should have no impact on us, but, you wanted global. Or, did you, like me, just buy the b.s. about it being the solution to a better life?

Global is good for cheap goods today.

Global is good for vacationers & business people– less hassle in travel.

Global is good for low wage manufacturing companies. (We don’t have any of those)

Global is good if you want to be multicultural and feel connected to the hollywood jetsetters.

For people like you and me- -

“Global Sucks.”

Nothing Good Comes with Global

Global is like a night of cheap wine. The buzz is cheap, but, the “after” affect has the same impact on the brain as striking a speeding locomotive, “ouch.” We love global, we get our clothes, now our food, cars, sunglasses, televisions, computers, phones, and, on and on. The list of items which come from another country is staggering, when we remember, in my youth the USA was “the” manufacturing power of the world. We had leading technology, a powerful, dedicated labor force and the energy of a young nation. We had just won a world war, almost single-handedly.

Then along the way, we sat down to read our press clippings. The reviews were marvelous. We were great, there was no other word for it. Rising from the ashes of defeat the socialists started moving back in. One day they were helping organize a group of workers, the next they were suggesting life could be better for all. Nothing very threatening came from the socialist movement, on the surface it looked great. The higher paying jobs for the number of hours was a reward for being a citizen of the greatest nation in history. Yes, we deserved to be well paid, we were exceptional.

Faulty Gene Pool

But our gene pool was aging, and so too was the desire to be the best. Somewhere in there getting the check and living “the good life,” became the goal. Second car, boat, bigger house, better lifestyle was mandatory to be part of the new America. No longer was it enough to have opportunity, we needed material proof of our exceptionalism and the marketing geniuses had their way with us.

We can’t blame the nation, or, the individual, so, it must be the gene pool. After all, we were told that our children were all exceptional and should be treated so. We learned we must get in touch with our inner selves and become whole individuals. Failure became accepted as long as we could integrate and become a kinder, gentler being who loved the planet. We had new goals. The old goals of hard work, dedication to family, duty to our country, they were outdated. It was all about “us” and getting what we wanted.

Greece would be a great study in how a nation goes from model to example. The Greeks were world renowned for the architecture, and their democracy. Today, we watch the Greeks destroy things as a protest against being responsible. For over a generation, Greeks have been living beyond their means. Today the bill is due and there’s not a Greek to be found who was alive when the nation was a model. They are all citizens of the “Greece in Ruins.”

Hail the IMF

We could make jokes about Greeks if the “politically correct” media were not policing our language. We could teach our children about the perils of socialism were it not being touted in schools as “the way of the future.” Greeks could become the scapegoats for what’s wrong with the European Union and the world, were we not just a few months behind them. No, this is not really about Greece, but, a system designed to extract money from the taxpayers.

On paper the International Monetary Fund sounds like a good idea. Countries contribute to a pool of capital which is used to keep world economic order. But, when one asks, where does the IMF get the money, the concept soon sours. Money to keep the IMF in business comes mostly from the USA and some from European countries. The Greek problem should stop at the European Union, but it won’t. The IMF will be needed to help the banks which hold Greek debt. The EU cannot and will not foot the bill for the Greek debt. The debt gets passed through to the IMF and eventually taxpayers who fund the IMF> That’s you and me.

Greece Kicks the Can

If you remember kick the can as a game, and consider kicking the can down the road similar, you are off base. Kicking the can in monetary terms means pushing it along so it’s not immediately in the way. Of course, as we pass along the path on our journey “said can” soon re-appears. Viola! Another can issue arises. No one believes the Greek debt solution offered this week will get the can far down the road. But, the politicians understand, it saves their skin. In this case the European Union gets a few more weeks or months before facing extinction. No one wants the European Union to fail. You and I should be against that as the final payer on the check will be the U.S. taxpayer sending cash to the IMF.

The real dilemma lies with the banks which hold the debt of Greece, Ireland, Spain, Portugal, Italy and the United States. The paper which keeps those nations afloat will be propped up by the U.S. Federal Reserve, the IMF and the European Central Bank. They too are the last people on earth who will lose money if any of the nations mentioned must actually restructure. They print U.S. dollars which in turns passes the pain to the U.S. taxpayer.

Some day we may realize we’re actually the can being kicked down the road.

And, one day, our worth will be exhausted, and, we’ll be left in the ditch to rust.