Thursday TOON Roundup 2-Disunion

[n2doc]

[hedgehog]

1. K&R

[Jim Lane]

2. Thanks for the collection, but I don't like the last one.

What the character in the toon is saying shouldn't be labeled as "Greek Mythology" because it's true. What's happening to Greece could not happen to a country like the U.S. that still controls its own currency.

[DCKit]

3. Ur punny!

Good to know we're connected, in no way, to the world economic system.

Of course, we've got so many traitors on the inside, it doesn't really matter, does it? Wall St. and the Banksters could take us down in a heartbeat, and that's why they're not in custody, on trial or in prison already.

[Jim Lane]

4. Of course we're connected. That's not my point.

The American economy faces major problems but our problems are quite unlike Greece's. Both governments have increased their total indebtedness over the last several years (in absolute amount and as a percentage of GDP). The crucial difference is that our debt is denominated in dollars, which we control, and Greece's debt is denominated in euros, which it does not control.

I don't see much danger of a complete collapse here. The banksters couldn't "take us down" without cutting their own throats. For example, it would be a major gain for progressives to restore Eisenhower-era or even Reagan-era tax rates on the rich; while they wouldn't like it, and would fight it tooth and nail, they'd certainly be better off with that outcome than with trying to wreck the system out of spite.