Greece runs out of other people’s money

The trouble with socialism is that eventually you run out of other people’s money.

The level of economic freedom in Greece is fortieth out of forty three in the Eurozone.  It has been falling like a stone for some time.

The real Greek economic crisis has been happening since about 2002, though it was partially hidden by very large amounts of other people’s money until 2009.

Supposedly only twenty five percent of the workforce are unemployed, but the unemployed are vastly outnumbered by the steadily and rapidly rising “inactive”.  If a young man never gets a job, he is classified as “inactive” rather than unemployed.  And most young men never get a job.

In most of the world, the anticapitalist economic left has largely disappeared, replaced by the anti white, anti male, and anti heterosexual left.  In Greece however the anticapitalist left remains significant, so that in Greece the ever leftwards movement creates profound uncertainty in property rights.  Movement leftwards in Greece buggers the economy more than movement leftwards in the US.  If you invest, chances are you will lose your investment to a gang of thugs affiliated with a political party and protected by police and bureaucracy.  In the event that you don’t lose your investment to assorted thugs, in the event that you actually make a profit, tax rates are far, far above the Laffer limit, so you won’t get your money back in any reasonable time – and with uncertainty growing every day, a reasonable time is a shorter time every day.

The government program is simple.  They demand ever greater amounts of other people’s money, so that socialism can work.  Since the evil Greek capitalists are tapped out, that is evil German money.  Other people’s money is a human right, and their failure to get it is a violation of their human rights.

And the more they want German money, the more they cultivate hatred of the Germans.  Seventy seven percent of Greeks believe the economic crisis is a German plot to install the fourth Reich on Greeks.

If you are stealing Jewish money, or Greek capitalist money, then it is a useful tactic to hate them, demonize them, and blame them for everything.  Hating and demonizing Germans is unlikely to work as effectively.

 

43 Responses to “Greece runs out of other people’s money”

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  3. St.Jerome says:

    B, what similarities did you see between Greeks and Dalmatians? I live in Split so that’s why I’m interested. I think Croatia is second worst EU member after Greece.

    • B says:

      I liked the Splitians, actually. The place had class. Ditto Zadar and Sibenik. South Dalmatia, by the Neretva Valley, was a lot better than the North.

      The rural Dalmatians (outside the big city-states( and the Greeks both have the following in common: they were traditionally fishermen and goat farmers eking out a living in poor land with a rugged coastline, and no particular reason to like outsiders or to be particularly hospitable. Now they’re in a position where they rely on outsiders for a living, so they largely cope by thinking of them as a sort of goat you can milk and shear.

      Dalmatia was the only place I passed through where the vast majority of people didn’t give a shit in the slightest that I spoke their language, evinced no curiosity about who I was and what I was doing there, and were primarily interested in selling me stuff. I’m sure an intergalactic spaceship could land in Senj, and the locals would not give a shit unless the aliens wanted scuba lessons and a room.

      Inland Croatians were much more typical Yugos.

  4. B says:

    I rode a bicycle through northern Greece in 2010, solo, on my way from Croatia to Israel.

    My personal impression was that a lot of the people were lazy, working a lot less hard than their neighbors in Turkey and Macedonia/the rest of the Balkans (except coastal Croatia.) Not all, but a lot. Prices were about like in Germany. Most people seemed to be living off of tourism/the sky-high cost of real estate (they’d inherited their land back before the EU happened, and since the current generation was smaller than that of their parents, it worked out ok, temporarily.)

    In general, the population was less friendly and sympathetic than anywhere else I went through. I didn’t get an in-depth view, of course, but people seemed to be very arrogant and looking to rip you off, which wasn’t the case in the rest of the Balkans (except Dalmatia,) or in Turkey.

    By the time I crossed to Turkey, I could really sympathize with the Ottomans-if the Byzantines were like this, they had it coming to them.

    The Greek desire to live like Germans while working like Albanians was bound to have unfortunate consequences, and the German and French willingness to subsidize this seems to me to be something similar to American support for incompetent governments in Afghanistan or Iraq-overall, the patron state loses, but because of the dominant ideology, the best course of action for all officials involved is to go along enthusiastically.

    Whether the Greeks succeed in fucking the EU or not, it’s like Aliens vs. Predator-whoever loses, humanity wins.

    • B says:

      http://www.ctvnews.ca/business/greece-finance-minister-resigns-after-decisive-referendum-1.2455304

      The whole thing is a bit reminiscent of Germany’s Reichsbank leadership.

      Until 1939, its president was Hjalmar Schacht, who was a serious economist, and pissed off Goring by repeatedly pointing out that if you only make tanks and airplanes, you end up with inflation. He got fired in January 1939 and got off scot-free after the war.

      His replacement, SS-Oberfuhrer Dr. Rudolf Brinkmann, Ph.D.(econ,) started his career off by raising monthly salaries of Reichsbank employees to 1000 Dm and throwing a party where he entertained the entire Reichsbank staff by giving a violin performance. He then proceeded to publicly light cigars with freshly printed banknotes, keep a loaded pistol on his desk and stand outside the Reichsbank building handing out freshly printed currency to passerby while yelling “fresh, fresh, hot off the presses!”) Shortly before he started physically assaulting people and was committed to a mental hospital, he wrote Goering a multimillion mark check (which Goering promptly cashed and largely spent.) In the middle of all this, he made a couple of speeches where he pointed out that if Germany continued only making tanks and airplanes, there would be inflation-he wasn’t completely bonkers, apparently.

      From mid-1939 onwards, the Reichsbank was led by Walther Funk, who was a go along to get along type of guy. He had to personally go to Hitler to get a refund on the check from Goering. He didn’t make any noises about inflation, although of course inflation really took off during his presidency. After the war, they put him on trial and in jail.

      Greece seems to be stuck in the Brinkmann phase.

    • jim says:

      Taxes are substantially above the laffer limit, welfare is generous, and most jobs are government sinecures provided through patronage networks. This discourages work, and leads to moral decay.

      For ideological reasons, Europe is unwilling to let Greece fail, and can afford to keep them on welfare forever. But if they keep them on welfare forever, Greece will have lots of imitators.

      Further, EU rules require that everyone pretends that money loaned will be repaid, while the Greeks fail to pretend, which fouls up the pretend and extend accounting of the IMF, World Bank, and the European Union. They may have to cut Greece loose so that they can continue all their other pretend and extend fantasies. They would be happy to keep Greece on a handout provided that the Greeks allowed them to pretend that they were not keeping Greece on a handout.

      • B says:

        >Taxes are substantially above the laffer limit, welfare is generous, and most jobs are government sinecures provided through patronage networks. This discourages work, and leads to moral decay.

        Moral decay is how the Greeks voted for these policies in the first place. You know, “klepts” doesn’t mean “hard-working smallholders with a Protestant work ethic.”

        >They may have to cut Greece loose so that they can continue all their other pretend and extend fantasies.

        They will have to cut Greece loose. It will not help. Right now, European monetary policy, as far as I understand, relies on selling financial instruments. A collapse in the expectation of repayment of those instruments, meaning, skyrocketing yields, will completely fuck the Euro, creating massive cash outflows into the dollar markets and causing the dollar to rise in the near-medium term (producing even more disastrous American financial policies, as this rise will be interpreted as caused by the success of American policies in place as opposed to the faster failure of the European policies.) And with Grexit, expectations will collapse-everyone can see Greece is a leading indicator for how it will go with the rest of the PIGS.

        Anyway, the Greeks will be ok-they will have to cut down on imports, but they have a ton of ports, agriculture, etc. Tourism will rise with a cheap drachma, exports will, too.

        • jim says:

          Anyway, the Greeks will be ok-they will have to cut down on imports, but they have a ton of ports, agriculture, etc. Tourism will rise with a cheap drachma, exports will, too.

          I don’t think devaluation is going to have much effect on their problems.

          Some time ago I read that using the ports is a problem because a “union” (meaning a gang of thugs that function as enforcers for some political party or even some party faction) is likely to hold your ship for ransom. As “Economic Freedom of the World” says, property rights are insecure. Agriculture is problematic because taxes exceed the Laffer limit. Tourism works because of massive tax avoidance, but if your country lives off tourists, it is going to be shithole.

          The rest of the European Union is not going to run out of other people’s money for quite a while longer.

          • B says:

            Devaluation will have the effect that their goods will be paid for in drachma, which will be much cheaper than the Euro. A sandwich or a pair of pants, which currently cost 5 Euro or 20 Euro, will be cheaper. Labor will also be cheaper (on one hand, the cost of living will fall, on the other hand, all the people who currently live on welfare because their skills do not allow them to be productive enough to earn a greater amount of money than welfare provides, will be forced to find jobs, depressing wages.)

            Greece has a 26% corporate tax rate, with massive tax evasion. Agricultural exports are tax exempt. Official exports of goods have almost doubled since 2009. According to this study, they should continue to increase: http://ec.europa.eu/economy_finance/publications/economic_paper/2014/pdf/ecp518_en.pdf

            Cheaper labor and a cheaper currency will mean cheaper exports and possibly an incentive for outside companies to produce stuff in Greece (assuming the government doesn’t leech off foreign companies too much, which is very uncertain.)

            The ports situation can’t be much worse than that in Israel to date; there are two ports controlled by a union straight out of a libertarian’s worst nightmares. Raw goods imports cost much more than they do in Europe (the transportation minister, Katz, is building two more artificial ports to break the monopoly.) Nonetheless, agricultural and manufactured goods exports are doing quite well. I spent some time working in a factory doing sheet metal laser cutting and bending. Some of the stuff we manufactured, like espresso machines, went into a box that would say “made in Italy” on it 🙂 So apparently, even with stainless steel costing 150% of the Euro price, and machinery that costs 150% of what it should because of import costs and taxes, you can make a profit on manufacturing if you have cheap labor/creative management.

            The rest of the EU will run out of other people’s money quite soon, because its method of getting said money is by printing promises of future money and selling them. The value of those promises is directly dependent on the market’s expectation of the value of that future money. Greek events forebode nothing good for that expectation.

  5. Alan J. Perrick says:

    The fact that people have had to make this decision in the recent referendum seems pretty abusive and it’s another example of how the republican system of governance is so inhumane.

    I’m not saying that the Greeks should be given a pass on this debt repayment, but perhaps the vote they should be making is one that gives the power of general civil governance over to a more valid authority or authoritarian system…

    A.J.P.

  6. Mark Citadel says:

    Good news. Ilias Kasidiaris of Golden Dawn (the one who gave that commie bitch a slap on live tv) has been released from custody!

  7. Strelok says:

    Good on you for recognizing the major problem in southern Europe is socialism, and not their genetics. At least not yet.
    That wouldn’t make sense at least for Portugal,Spain and Italy since they achieved the height of their power after the Reconquista and not before.

    I live in a heavy touristic area in southern europe with large numbers of both south Euros, Africans, Anglos and germans. You can pretty much witness HBD with your own eyes everyday.
    While Southern Euros are noticeably not as smart as your average anglo or german tourist, they are not that far — somewhere at the level of the eastern Europeans. Africans, on average much lower and concentrate on poorer neighborhoods just as they do in the US.

  8. Antheist_Ang says:

    Hee hee…. so now IQ tests are not measures of intelligence, because your race doesn’t stack up.

    I suppose they are “culturally biased” against the Irish — lol.

    We do have some western whites migrating now, but they come in basically two forms:
    (1) visiting corporate bureaucrats/lawyers/factory supervisors that come, smile, talk, and go back. They don’t produce anything of value.
    (2) bums that teach “American English” and bed down schoolgirls who have a white-infatuation. They don’t produce anything of value.

    “I think Asians are objectively superior to Whites by just about any measure that you can come up with in terms of what are the ingredients for a successful society.” -Jared Taylor

    • Alrenous says:

      British Empire.
      American Empire.
      Roman Empire.
      Alexandrian Empire.

      vs.

      Mongol Empire.

      “China was stable without having to expand!” British Empire. Even now they have to pretend to be communists and dare not stand on the world stage except most furtively.

      And since you brought up the subject… http://unenumerated.blogspot.com/2006/10/how-to-succeed-or-fail-on-frontier.html
      China vs. Portugal, a population of 90 millions vs. 1 million. Winner: 1 million.

      Yeah I’m sure Asia will even the scoreboard. Any day now.

    • Nyk says:

      You’d think that the Yellow Master Race* with its high IQ would be better at things such as basic hygiene, especially when preparing food… My experience is that even Morocco, an Arab and Berber Muslim nation, deals with these issues far better than the Asians. Must be that the high Asian IQ is being used to hasten natural selection or something. LOL.

      And BTW, regarding the Jared Taylor quote. I believe great people and geniuses are part of a successful society. So, who were the Chinese Leo da Vinci, Galileo, Newton, Leibniz, Darwin, Babbage, Einstein? Hell, it took a Korean king to realize the Chinese writing system sucks and to invent a superior writing system for his own people! Never in 3000 years has it occurred to any Chinese how inefficient is a writing system derived from scribbles on oracle bones.

      And why are universities such as MIT and Oxford still the prime institutions for learning today (and not Tsinghua University), DESPITE feminism and all the other ailments plaguing Western society?

      *Excluding Japan and Korea here, I have no first-hand info about them. But I have been to China.

      • k says:

        The Chinese system of writing has a high entry barrier, but is extremely convenient once learned. Koreans have taken several centuries to abandon the characters, and still haven’t totally let go yet.

    • jim says:

      It is noticeable that technologies tend to be invented in the west, made in China. Those engineers that bring these technologies with them are producing something of value.

      The bureaucrats/lawyers/supervisors that you sneer at are bringing in something of value – every country that became wealthy, became wealthy by importing the corporate form. Wealth is created by CEOs telling people what to do. Industrial civilization got going with double entry accounting and the joint stock corporation, and whenever science is made into usable technology, it is done by a corporation run by an engineer/scientist/CEO. This organizational form was created in the west, and is imitated by importing westerners, and the continuing imitation involves continuing import of westerners.

      The Japanese were the first asians to industrialize, and their success rested on the fact that they realized that they had to import intangible aspects of western civilization. Those empty suits you complain about are bringing you those intangibles.

  9. spandrell says:

    People keep saying that but the mandarinate didn’t involve enough people nor enough time to have any effect on the gene pool.

    The Japanese were fishmonger savages until 300BC. They only built a state in the 600 AD. They never had examinations, and the state didn’t take long to collapse into samurai war madness for centuries.

    And those guys are exactly as obedient, orderly and good at test making. So no, the mandarinate didn’t change the gene pool. It did establish a culture of cheating and sycophancy.

  10. Antheist_Ang says:

    Based on the natural hierarchy, the Pacific Rim should really rule the earth quite soon. Perhaps a restoration of the Ming Dynasty is what we should be pushing for as the natural order?

    I would like having some of you Micks, Pollacks and Bohunks as my domestics.

    When can I put some of you in indentured servitude again?

    Rank Country Average IQ
    1 Hong Kong 107
    2 South Korea 106
    3 Japan 105
    4 Taiwan 104
    5 Singapore 103
    6 Austria 102
    6 Germany 102
    6 Italy 102
    6 Netherlands102
    10 Sweden 101
    10 Switzerland 101
    12 Belgium 100
    12 China 100
    12 New Zealand 100
    12 United Kingdom 100

    • jim says:

      I observe in practice very large numbers of white neoreactionaries quietly moving to Singapore, China, and Japan.

      • Hidden Author says:

        Revel in your abasement and servitude to your new Mandarin overlords, “freedom” lover!

      • Erebus says:

        I’m one of ’em. I spend most of my time between Hong Kong and Japan, and all of my businesses are headquartered in Hong Kong for tax and regulatory reasons. (I save millions per year on taxes here, and don’t have to deal with the EPA, OSHA, USCBP, nor any other productivity-destroying alphabet agency.)

        That Hong Kong’s average IQ is 107 is something I very sorely doubt. It’s simply impossible to hire smart and resourceful employees here — most of them behave as though they’re mindless drones: Half-decent at taking instruction, but downright terrible at taking initiative or thinking creatively. They also have awful aesthetic sensibilities, so they suck at marketing and design. My impression is that Hong Kong has developed a culture of test-takers, with people ruined by an overbearing academic establishment… I find that there are really very few original and creative thinkers here.

        The Japanese, in my experience, suffer from the same sort of… mental rigidity. But it’s not nearly as bad in their case, and, moreover, their sense of aesthetics is unrivaled. I’d much rather spend time in Japan as opposed to Hong Kong — it’s a more comfortable and agreeable country in every regard but the most important one: The corporate tax rate in Japan is far too high.

        As far as “freedoms” are concerned: China and Hong Kong are freer than the USA in many ways. People are much less regulated and micromanaged, in general, as petty crimes tend to go unpunished and the country’s legal code has not grown out of all proportion. Half the things that would get you arrested in New York would be no issue at all in Shanghai.

        • jim says:

          My impression is that Hong Kong has developed a culture of test-takers, with people ruined by an overbearing academic establishment…

          Could be that the mandarinate bred chinese to take tests well, which raised IQ (the thing we can test for) by more than intelligence (the thing we are trying to test for)

          • Erebus says:

            That theory makes a lot of sense to me. It is corroborated by the fact that Hong Kong, despite a population of nearly 8 million, has no record of scientific or technological achievement. In fact, Hong Kong has very little industry of any kind at all; its principal commercial activity consists almost wholly of what I would describe as manipulating documents of one sort of another, very few of which are of any great import or interest outside the local real estate, insurance, and Asian financial sectors.

            Anyway, in my experience, the average German or Austrian is smarter (quicker thinking, more creative, more knowledgeable overall, and with a far better sense of aesthetics and proportion) than the average Hong Kong resident. By a country mile.

    • Rhett says:

      I would say this: so what. Keep your smart country to yourself and we’ll stay here, without any globalism. Sound good?

    • Alan J. Perrick says:

      Yes, because national I.Q. result can boiled down to a three-digit number. Ignorant dolt!

      A.J.P.

  11. Just sayin' says:

    I dunno, seems kind of oversimplified to blame “socialism”.

    Greeks are basically a morally degenerate kind of Turk. 92 IQ, etc.

    So, a rather uncompetitive population. But fully integrated in the global economy and held to first world standards in terms of human rights, labor and environmental laws, etc.

    What if there just isn’t very much in the way of economic activity that they are good at?

    Prior to free trade and globalization you could put young people to work doing something or other and people in your country might buy it. But maybe in the modern world it turns out that there isn’t really anything for them to do. Nobody is going to buy Greek industrial goods, nobody is going to buy Greek software, etc. Agriculture doesn’t require a lot of workers anymore.

    Greek needs to elect the Golden Dawn, leave the EU, impose the Juche ideal, practice autarky and see if they can evolve into a more competitive sort of human.

    • jim says:

      Greece is pretty much all harbor. Used to be that they had a ship building, ship maintenance, and entrepot business. IQ 92 is adequate for that job, though you need a smarter market dominant minority to manage the entrepot business and design the ships. (Armenians ran the economy.)

      All the shipping and entrepot management and investors fled “unions”, which “unions” were in fact the thug arms of political parties, leaving Greece with no real economy other than waitressing on tourists.

    • Rhett says:

      Greeks are not Turkish actually, at all. The miscegenation is wildly overstated by the ignorant- they are simply assuming it, probably based on their own tendencies or because of what happened with the Spanish and Portuguese Empires. Any mixing with Turks made the mixer and hi/her offspring “Turkish.” This program was also carried into the rest of the Balkans. That and the conversion of the Greeks in the Western Anatolia area grew the “Turkish” population quickly, so it is them who are mixed with Greeks, Bulgarians, Serbs, Albanians, Romanians, etc., not the other way around.

      As for the IQ, well, due to the brain drain caused by the many political and economic crises they’ve lost a few people. They’ve lost at least 100,000 of their best educated in the past 5 years or so. Also, the problem for Greece has typically been foreign meddling, not any perceived Turkishness or IQ issue.

      The Cathedral wanted Greece to become like them or else, that meant ‘democracy’ which is the perfect form of gov’t for meddling and social engineering. Don’t forget feminism and all of the gov’t jobs that requires; not an idea that came from Greece. Greece had a very successful traditionalist dictatorship that certain ‘capitalist’ democracies just couldn’t abide.

      Just saying.’

      • jay says:

        “Capitalist” in name only. Economics systems in the west is actually more like fascism with corporations and government being merged together.

        And corporations and government being indistinguishable from each other.

      • Bettega says:

        The smarter Greeks preferred to be the dominant minorities in the Ottoman Empire and in Egypt than to live in Greece. Later, when Ataturk and Nasser expelled them, they moved to the Americas or Australia instead of back to the home country. Aristotle Onassis being the emblematic case.

    • jim says:

      Observe that during the dictatorship and the monarchy, their economy did fine, “the Greek Economic Miracle” When the Junta was overthrown, the economy went to hell, and has only given the semblance of life when injected with enormous quantities of foreign money.

      • Rhett says:

        Indeed Mr. Jim, indeed. The Junta was a Godsend for Greece. They were terrible at PR though, the int’l liberal press killed them. The ‘democratic’ system that inherited their debtless, serene system had been riding that wave ever since, now it’s hit the shore. The Junta took over at a time when ‘democracy’ had just gotten done wrecking the best efforts of the Metals dictatorship, which, also in a short amount of time put Greece in a very good situation. The only time that democracy really benefitted Greece was during the (early) Venizelos period and a little bit during the Trikoupi era, otherwise it is a flop. Bt the word its;f seems to have magical properties. Also, one of the coupsters is still alive (General Pattakos), if you can find an interview with subtitles it is worth it, they try to bears the 103 year old man, but they just can’t do it.

        Good post by the way sir,

        • jim says:

          Greece suffers from ailment far more serious than whether it is in the Euro or out of the Euro, whether it is applying austerity or inflation. And one of the symptoms of this ailment is chronic brain drain.

          To remedy brain drain, the better people need opportunity and reward. To get the economy functioning, the better people need opportunity and reward.

          Solution: Same as every other western nation. Military seizes power, sets up an inquisition to purge the education system, the academies, the police, and government employees of the ideologies of envy and covetousness.

          • Rhett says:

            @Jim

            Wow, you really nailed it in so few words. You always nail it in so few words; I wish I was like that.

            What you just said sir, was exactly what was done by the Junta and by the Metals Junta and, for that matter, the Kondyles Junta (which restored the monarchy). The GD is the only real party that might have a shot at this, but they are not the military per se (although their ranks are filled with pro-military men and former spec ops people, and of course a few retired generals), the have connections to it and the policemen have been revealed to generally support the party.

            Good day sir.

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