German Chancellor Angela Merkel seems to have had enough (we’ll see) and is catching flak for basically telling Greeks to tighten up or forget about seeing money from your neighbors. IMF chief Christine Lagarde appears to have reached her own breaking point, as well, emphasizing that she has more sympathy for poor African kids than for a country that takes international loans to stay afloat while bitching about the belt-tightening requirements attached to the cash.
So against a backdrop of rebellious Greeks who seem mortally offended at the idea that their ship of state won’t function as a sea-worthy vessel while it is capsized, we receive the charming piece of news in these United States that nearly half of our populace lives in a household receiving a government benefit of some kind.
While some may take issue with the idea that this figure includes those retirees who’ve paid into Social Security all their working lives and are simply drawing on the benefit for which they’ve paid, the overarching point is that our reliance, overall, on checks issued by the government in some form or fashion is growing, and that is movement in the wrong direction.
The core of our problem is not financial, but cultural and sociological. Economic mechanisms that represent components of a widening safety net would not exist if rank and file citizens who vote for the politicians responsible for implementing them were not themselves of a mind that the safety net should be widened.
Separating oneself from one’s own self-interest, ask yourselves how this all ends. Actually, most of us already know the answer, but too many among us cannot help themselves…and how sad for the others.
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Bob Yetman, Editor-at-Large at Christian Money.com (www.christianmoney.com), is an author of a variety of materials on personal finance and investing, as well as on topics of fitness and self defense, to include the book Investor's Passport to Hedge Fund Profits (John Wiley & Sons, Inc.) and the unarmed combat training DVD Thunderstrikes - How to Develop One Shot, One Kill Striking Power (Paladin Press). He is also the Managing Editor of the monthly Bible Prophecy & Survival Report newsletter (www.themarkofthebeast.us).