The Greeks Are Kidding Themselves

... if they think that their problems started recently. Meanwhile, they are shrinking away from taking their medicine.

April 6 (Bloomberg) -- Greek government bonds slumped, pushing the yield on the two-year note up a record 132 basis points, amid speculation that a European Union and International Monetary Fund plan for reducing the nation’s deficit may falter ...

Greece has been receiving information from the IMF about the conditions it would impose in return for aid, Market News said. Government officials found them to be “tough,” and are concerned that they could result in civil unrest, Market News said, citing officials it didn’t identify.

Cut social spending? Outrageous! That's too "tough." Instead, they're embarking on a world pity tour, trying to sell worthless Greek bonds all over the place so they can keep the trough open just a little while longer. Unfortunately for the Greeks, that's going to fail, too. Mathematics has caught up with them.

So when did it start? It started a long time ago when they decided to be compassionate with borrowed money. More and more compassion, more and more borrowed money in good times and in bad. It got substantially worse last month when they decided to completely detach earning from having and they passed ObamaCare, a bloated monstrosity that blew their budget apart.

Hmm. I do have the right country here, don't I?