So what’s wrong with that?
The “price” and by price I mean the human time and effort that goes into making whatever those imports are does not change.
The numeric value on a piece of paper needed to acquire the item may change, but a number on a piece of paper is not the “price.”
Giving Greece another billion, trillion, or gazillion Euros does not change the world of real things.
Things and services are ultimately paid for with other things and services. Paper or credit is just a go-between.
For Greece to buy an oak barrel from the United States, it must be paid for by gyros, or olive oil, or an export of something to somewhere. Otherwise there is a useless piece of paper (money) floating around out unused.
The transaction is unfinished.
The price has not been paid, instead it has been hidden, hidden in plain sight.
A billion or a gazillion Euros has to get its value from somewhere, and since the U.S. Sec. of the Treasury is now involved, that price is going to be born by you dear reader.
Oh, you’ll barely feel it, just like you barely felt the bank bailouts, the corn subsidies, congressional raises, or a million other taxes, fines, and fees extracted from your labor and savings.
But no one will tell you that.
Pouring money into Greece is not to help the Greek people. It’s so the money can pour back out into the banks who mistakenly lent to Greece in the first place.
Oh sure, it’d smooth things over for awhile, and no doubt be lauded as a ‘success,’ right up until the money runs out again.
With Greece in a deeper hole than ever, and you still digging.
