The ancient Greeks used a form of discussion called "dialectic" to debate issues. Today, TheFundamentals, out of respect to the land of Plato and Socrates, employs dialectic questioning to examine the many facets of matters Greek. Let’s start….
What have we learned from the Greeks historically?
In literature, in poetry, in mythology and in the more modern forms of advanced communication – screen and stage, the Greeks are noble, wondrous folks with great wisdom and experience and joyous family celebrations. The world sends its visitors to their cities, their ancient structures and their islands to partake of the history and the culture and the society that has led the world through the ages. We all marvel at their culture and bearing. We embrace their nobility. We base our democracy on their principles. The Greeks don't engage in self destructive behavior. They know better.
What have we learned from the Greeks more recently?
The ancient state of Greece, cradle of Earth’s democratic concepts, is drowning in debt. How can a democracy, supposedly the only form of government system that is flawed but not totally destructive to economic and personal freedoms, be drowning in debt? How can free people engage in extended periods of self destructive behavior? Why would free people engage in self destructive behavior? It just doesn’t make sense. Surely the Greek politicians and bureaucrats were looking out for the interests of the citizens and, particularly, the Greek tax payers? Surely, the Greek politicians and bureaucrats were men and women of principle and recognized the need to practice sacrifice and frugality. Maybe they can blame Wall Street for their problems! We do wonder, however, whether American politicians and bureaucrats have been taking too many junkets to study the behavior of this storied state and its promiscuous ways? It appears that our politicians are imitating the Greeks.
What does the expression, “Beware of Greeks bearing gifts” mean?
Well, we did a little research and it turns out that it is a reference to a wooden horse that the Greeks left at the doors to the city of Troy a few years back. The Greeks and Trojans (aka people of Troy) were warring and it appeared that the people of Troy had won; the Greeks had retreated and they left this gift of a really big wooden horse. The Trojans took it inside their walled city and proceeded to celebrate late into the evening. And then, when they were all passed out; when the Trojans were out cold and not able to defend themselves, Greek warriors swarmed out of the wooden horse and destroyed the sleepy, defenseless Trojans. Pretty clever, huh? Some think the Greeks have lost their edge in this modern world of ours. But they are doing a pretty good job of playing the Germans for patsies and the Germans are buying into it much as the Trojans did.
Could that be a wooden horse standing on the banks of the Potomac?
What does that mean? Are you suggesting that the promiscuous ways of the Greeks have invaded our fair land? Could the example of the consequences of their decades of financial promiscuity be a gift of warning to the United States? Will we heed the warning? Will we modify our financially promiscuous ways? Our excesses? Will we rein in our costly military ventures? Our vote buying entitlements? Our generous public employee pensions? Is that what you mean? Are you speaking metaphorically? Are you nuts? It can't happen here. We're not Greece. We're the greatest country ever. Our best days are ahead of us, fool.
Could the Greeks just be engaging in a bit of "regifting?"
There you go again. That question has a bit of cynicism in it. Are you suggesting that the Europeans are returning our gift of crappy bubble inflated, mortgage backed securities by loading up the world with some crappy Euro bonds payable by their Greek member state?
Did Thomas Jefferson have some Greek heritage in his background?
Apparently not because this is what he said, “It is incumbent on every generation to pay its own debts as it goes.”
Does TheFundamentals wish to make a prediction?
No, but we will make the following predictive comment: Beware of more and more Washington politicians and bureaucrats speaking about the dangers of deficits and debt while performing no actions to either eliminate deficits or repay debts. TheFundamentals expects a rise in politicians saying, “Do as I say; not as I do.” Only, we predict they will not use those words. They will say things like, “Hey, let’s form a committee or a commission to look at the problem. To come up with suggestions.” Or, they might say, “Hey, you all had better get your deficits under control pretty darn quick (but this is what they really mean - Don’t be looking to me to do anything about it.") See Steny Hoyer's article in the left margin entitled - Do as I say; not as I do (just kidding; it starts out with "Shared Sacrifices" which leads us to wonder, "Hmmnn, has Steny been reading TheFundamentals?")
What might Thomas Jefferson say today if he was around?
“Don’t look a gift horse in the mouth.”
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