Comment: "punk" economics is the right term

the presentation is well done but do not be fooled; germany is not the bad guy for giving money to greece - stupid? yes. bad? no.

the greek people are not suffering because their country receives billions and billions of credit (rather foreign aid because it will not be paid back) from germany and other european countries. this is absurd.

they are 'suffering' because the government cannot keep on handing out free stuff anymore. the greek governments were reckless in the past (along with a majority of greek voters who demanded such recklessness) and subsidized everyone and everything. at the same time the motivation to pay taxes or enforce such payment is below average to put it mildly. the combination of those two means the government is bankrupt.

greeks are complaining because the government entitlements and subsidies have dried up. if the greek population would shift to productive work and away from entitlements and government jobs they could pull themselves out of the troubles. unfortunately, their mind set is not helpful at this.

but blaiming the creditors who will be losing a good chunk of their investments is just so wrong. i honestly would not have expected this from a ron paul supporter. the whole video reminds me a lot of the "story of stuff".

furthermore, there are misrepresentations in the video: the euro was originally planned as a hard currency - very much like the german mark and has been changed into a soft currency like the us dollar (without the reserve status) due to legal changes and executive orders since may 2010. not the other way round.