June 29, 2015

Greece -- and Ontario -- show what happens when socialists run out of other people's money

Ezra LevantRebel Commander

The showdown is on between Greece and its creditors. The Greek government of Maoists and Communists is actually asking for even more money -- and so far, the banks are saying no.

But Greece's economic problems aren't unique.

Ontario has the highest amount of debt than any other sub-national jurisdiction.

JOIN TheRebel.media for more fearless news and commentary you won’t find anywhere else.

VISIT our NEW group blog The Megaphone!
It’s your one-stop shop for rebellious commentary from independent and fearless readers and writers.

READ The Enemy Within: Terror, Lies, and the Whitewashing of Omar Khadr, Ezra Levant’s new book about domestic terrorism and radicalization.

You must be logged in to comment. Click here to log in.
commented 2015-07-02 11:49:58 -0400
Ontario’s future, compliments of Winnie and her band of fools…
commented 2015-07-01 22:37:15 -0400
The Greeks are a strange breed. The most entitled bureaucratically constipated country in the world. Not too many people are not employed by the government in Greece. They are used to their perks and they ain’t giving them up. Sound familiar?
commented 2015-06-30 17:33:48 -0400
Oh PUHLEEZE give me another pull on that bottle of Metaxa and I promise I will sober up in the morning… I really, really promise!…
commented 2015-06-30 12:12:10 -0400
A century from now when future historians write about our time, it’s highly likely they’ll conclude that the euro was the dumbest invention of this age.

The idea was to take completely incompatible economies, pretend that they were all Germany, and put them under one monetary roof simply because they were on the same continent.

Imagine jamming Argentina, Australia, Angola, and Azerbaijan into a currency union simply because they all start with the letter “A”. It’s just as pointless and arbitrary as geography.

And when one of them starts to collapse (probably Argentina), rather than admit their mistake and dissolve the whole stupid idea, the bureaucrats spend massive amounts of other people’s money fruitlessly trying to hold the project together.

This is what’s happened in Europe.

Eurocrats have spent untold billions of other people’s money to save face, just so they wouldn’t have to admit that Project “Make Everyone Germany” has failed.

The lesson is pretty clear: a bad system will fail. Especially when that system is built on a mountain of debt and deceit.

Greeks had the opportunity to do that long ago when the euro was strong and the capital controls didn’t exist.

But for most people, time is a reason to procrastinate. They think that because it didn’t collapse today, tomorrow will be just fine. So they stick their heads in the sand. Or somewhere else.

And now those people are standing in line at ATM machines across Greece with empty garbage bags trying to figure out how to survive against strict capital controls.
commented 2015-06-30 10:56:15 -0400
Mul"care" = welfare! Canadians need to seriously reflect on the economic situation unfolding in Greece! It CAN happen in Canada! I just cannot fathom how “naive and stupid” the Main Stream Media party is in their support of Trudeau/Mulcair and their “anyone but Harper” attitude!
commented 2015-06-30 10:23:19 -0400
Fred Shuttleworth, Peter Netterville — “Surely, Canadians won’t really vote for the NDP.” “I wouldn’t bank on Canadians not voting for the NDP federally.” Don’t bank on that “bank on”. Mulcair got a huge boost when Notley got elected. As in, “Hey, we became the government in the most right-wing province in Canada! How’s about we try for Canada itself?” (And don’t think he won’t pull something along that line.)

Trudeau Jr is proving to be the mouthpiece he is, and not even the MSM can whitewash him properly. The MSM has a hate-on for Harper, so look for the MSM to openly support Mulcair. Mulcair can point to the defeat of the Bloc in the last federal election, and the defeat of the provincial Conservatives in Alberta to defend his claim to the PM’s seat (never mind that both “victories” were really protest votes)… and now he’ll actually have people paying attention. What we can hope for is that Quebec dumps Muclair’s butt in this upcoming election, but my hopes are not high.

This is why I’ve been saying on here that the Rebel’s focus on denouncing Trudeau Jr is not enough. Junior is not the threat; Muclair is, and he’s being given a free pass here… which is dangerous for ALL of us!
commented 2015-06-30 08:16:41 -0400
Andy said, “As for Ontario, it is only a matter of time before reality prevails there also, as it must…”

And the Alberta NDP are wetting their pants with glee at taking Alberta down the same road, and Thomas Mulcair is grinning like a Cheshire cat at the possibility of taking Canada down that road too. Canada is in big financial trouble, especially if Mulcair gets in.

At least that is my prediction.
commented 2015-06-30 01:29:34 -0400
The Greeks getting their noses bloodied by financial reality should be a blessing in disguise for the rest of Europe…It may indeed serve notice to Portugal, Italy and Spain that pie in the sky government financing does have consequences and the Euro bubble is not beyond being deflated… Other members of the European Union, such as Ireland and Latvia, have shown what sacrifices are needed to re-build a sound economy when the poop hits the fan, and they are certainly in no mood to further indulge the bizarre “gimme” culture that is today’s Greece… And that’s why the once sneering and smug Finance Minister Yanis Varoufakis is no longer smiling and preaching communist doctrine to his European counterparts… As for Ontario, it is only a matter of time before reality prevails there also, as it must…
commented 2015-06-29 20:53:15 -0400
Fern Shuttleworth, I wouldn’t bank on Canadians not voting for the NDP federally. Albertans were shocked to get the Notley crew, including Notley herself and Alberta was all conservative before the election. Blindsided! Hope that doe not happen federally, but …
commented 2015-06-29 20:47:10 -0400
Ron Bissett, I call your anger and raise it with one rage!
commented 2015-06-29 19:43:56 -0400
Surely, Canadians won’t really vote for the NDP. Mulclair is smiling like he thinks he is the new PM . When the cost of the NDP’s budget comes out, that will bury them. Let’s pray!
commented 2015-06-29 19:00:16 -0400
Peter, if you’re happy to not have to live in Ontario, it won’t be long before you can add Alberta to your list. I’m so angry with everyone who voted the NDs into office thinking they were punishing the PCs. All they did was punish the rest of us. I’m so angry! So angry!
commented 2015-06-29 18:43:50 -0400
Socialism is the neo communism of our time.
commented 2015-06-29 18:34:41 -0400
I sure wouldn’t want to live in Ontario either.
commented 2015-06-29 17:50:14 -0400
One of the reasons why socialism fails in it’s supposed Robin Hood mission of “redistribution of wealth” is that they can only confiscate wealth through taxation. Taxation only touches income. Assets on the other hand can only be borrowed ….with interest repaid through taxation. So the only way socialism can “progress” is through expropriation of assets without compensation….state sanctioned theft.

The Greeks foolishly thought that they could forgo this day of reckoning by voting for a communist who promised to thumb his nose at the bankers and show those capitalist pigs.
commented 2015-06-29 17:46:21 -0400
Yes, it is true that socialism is the way, that is for sure. Who wouldn’t want to live in Greece right now? Ahhhhh, paradise in socialist land! I am going to vote Mulcair ‘cuz he’s my socialist hero! Socialist Alberta + socialist Canada = double the fun!
commented 2015-06-29 17:40:53 -0400
Greece defaulted in 2010 – I recall 40 cents on the dollar for bonds. And Greece in typical communist fashion did sweet fk all to change direction.

Suicide rates are through the roof in Greece too. MOAR SOASHULIST UTOPIA!!!!
commented 2015-06-29 17:02:42 -0400
All you people out there considering voting for the NDP. I hope you are watching very carefully. This could be Canada’s future , if people are stupid enough to vote for Mulcare and his socialist NDP party.