Tax and Spend

Greek rulers betray voters and accept another terrible bailout deal. What else would you expect from a ruler who was being threatened with a coup and assassination right after he saw the US and Europe implement a coup in Ukraine and nearly implement one in Macedonia?

"To Germany and other nations that went into the negotiations fed up with Greece’s inability to get its financial act together, the outcome was fair and the new requirements necessary to assure that the Athens government lives up to its commitments. But to some Greeks, and to critics of the German-led policy of imposing deep budget austerity as a condition for aid, the deal amounted to an unwarranted violation of Greece’s sovereignty."

This deal is a transfer of wealth from European taxpayers to other European taxpayers since the bankers have already protected themselves. This deal may not fly because...

"European leaders have “kicked the ball back to Athens,” Jorg Kramer, chief economist at Commerzbank in Frankfurt, wrote in a research note. “Greece has to pass numerous, unexpectedly tough reform laws before negotiations about a third bailout program can start.”"

Voters won't like that. I really doubt this is less bad for Greece than an exit.

The Greece crisis is far from over.

Record federal taxes collected through June.