Simple lessons from the Greek crisis

Thursday, 2 July 2015 00:00 -     - {{hitsCtrl.values.hits}}

  • An economy, much like a household, must learn to live within their means. If what they ‘consume’ far exceeds what they produce (domestically) and what they earn (via exports), then bankruptcy is a matter of time
  • Printing money and creating imaginary wealth (via risky investment tools) is only a temporary ‘pain killer’
  • Perpetually borrowing from your neighbours has its limits
  • Politicians and regulators can ‘talk’ their way through economic performance, but you cannot ‘fake’ real economic value-addition
  • Don’t have grand parties (like the Olympics) if you cannot afford it and if there is no ROIStill sounds Greek?


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