Plain Sense Economics

I find that the older I get the more interested in history I become. Perhaps that’s because more events described in history texts are ones that I either experienced or knew about in contemporary times. Or, perhaps history is just comforting. Today we note some parallels with the European Debt/Monetary crisis and the early years [...]

Just a quick update on my previous post – about the Greece debt crisis.
Pundits and observers, who are no smarter than you or me, are assuming that Greece will default on its sovereign debt. This is as if the United States decided not to pay off our U.S. bonds one day.
To avoid a total market [...]

So, who cares about the Greek debt crisis? It’s a small country, a long ways away.
Answers:
Greece as a Country: “We care!”
The Euro currency countries: “We care!”
Europe Generally: “We care!”
U.S. and International Financial Community: “We care!”
Stock Investors: “We care!”
All right, already.  Here’s why they care.
The background
Through a series of missteps over the last 10 years the [...]