Economics For Dummies!

Can't you understand how our bankers, "financial advisors", and politicians crashed our economy and got obscenely rich in the process?

Perhaps a smaller, simpler example would clarify confusion. Cyprus!

Cyprus bankers encouraged deposits from Russian capitalists/mafia, and then foolishly invested those funds in Greek bonds.

The bond market crashed and the bankers went crying to the government to bail them out because they were "too big to fail" and were justifiably terrified of the Russians.

The Greek government went to the European Union for bailout funds, but the EU wanted guarantees and required the bankers to take funds from their depositors to pay back the bailout. The details leaked to the Cypriot citizens and depositors drained their accounts until the ATMs were empty. (There also was a little bit of rioting in the streets. Do citizens in Cyprus have assult weapons like we have in the U.S.?) The banks closed and Europe is sweating it out.

Unlike us, the Cypriots did not tolorate greedy bankers screwing them and went to the streets. But we'll never do that. We're law-abiding, complacent, and trusting our leadership to straighten this all out. We'll tighten our belts some more (do we wear belts anymore?). Our leadership are planning to decrease medicare payments to doctors and hospitals, decrease cost of living increases to Social Security payments even though the cost of living keeps rising.

Do you not realize what has happened? Have you not been paying attention? Do you not understand that the politicians and the privileged class have turned us into plutocracy?

back to main page