Monday, April 26, 2010

Behind the Greek Debt Bomb Lies Government Corruption, Fraud and Mismanagement....

Here’s a REAL warning for America!

What’s the primary force behind the Greek “Debt Bomb?”

If you guessed “Government graft, mismanagement, corruption and cronyism,” you’re RIGHT!

Greece rates as one of the most corrupt governments in Europe. No one there can actually tell how many people work in Greece’s private sector!

Moreover, bribes, cronyism and graft (paying for either government positions or to get deals done) is a way of life in Greece. An already finished study, due out within weeks, by the Brookings Institute has found that bribery, patronage graft and rampant government corruption are behind much of Greece’s exploding debt.

Greece’s national debt, is over 100% of its GDP, although the same can be said (to varying, though similar degrees) about all of Europe’s “PIGS” - Portugal, Italy, Greece and Spain.

As America’s national debt explodes in the current and ongoing orgy ofd spending, Greece very much should be a warning to America about the cost of malfeasance.

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