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Who: Kimball Corson. Text and Photos not disclaimed or that are obviously not mine are copyright (c) Kimball Corson 2004-2016
Port: Lake Pleasant, AZ
09 April 2018 | Pago Pago, American Samoa
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22 August 2017 | Pago Pago, American Samoa
22 August 2017 | Pago Pago, American Samoa
22 August 2017 | Pago Pago, American Samoa
22 August 2017 | Pago Pago, American Samoa
22 August 2017 | Pago Pago, American Samoa
22 August 2017 | Pago Pago, American Samoa
09 August 2017 | Pago Pago, American Samoa

The So-Called Greek Debate

03 July 2015 | Pago Pago, American Samoa
Kimball Corson
As Greece's situation plays out, economists and political analysts are debating what went wrong and who is to blame. But the truth is pretty clear. Greece too long engaged in irresponsible and corrupt government. The 2008 crash pulled the plug on that the Greek house of cards came tumbling down. It is now dealing with that aftermath plus years of serious austerity programs its creditors have imposed on Greece, supposedly to get Greek back on its feet so it can repay its debts.

Those austerity programs are an abject failure and have worsen creditors and Greece's position and situation. They are the fault of the EU and the IMF, so there is blame enough to go all around. Recriminations fly. It was a bad situation that has been made much worse. The only consensus between the two sides is that Greece's economy is shambles as the graph here explains. Many economists properly blame the austerity programs of the EU for the Greek economy's failure to recover.

But a huge question troubles me that no one is really addressing. Why would a savvy creditor loan such huge sums to a corrupt and failing government such as Greece's? Prospects of repayment much beyond interest were clearly not good. The prospects of governmental and economic viability were clearly poor even before the crash of 2008 when most of the loans were made. Was no due diligence done? What went on here? Didn't everyone have a general knowledge of the situation? The Greek government was notoriously corrupt and profligate. I cannot believe for a heart beat creditors didn't know better. Were they after the political leverage of austerity? If so, should they be repaid?
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Vessel Name: Altaira
Vessel Make/Model: A Fair Weather Mariner 39 is a fast (PHRF 132), heavily ballasted (43%), high-aspect (6:1), stiff, comfortable, offshore performance cruiser by Bob Perry that goes to wind well (30 deg w/ good headway) and is also good up and down the Beaufort scale.
Hailing Port: Lake Pleasant, AZ
Crew: Kimball Corson. Text and Photos not disclaimed or that are obviously not mine are copyright (c) Kimball Corson 2004-2016
About:
Kimball Corson: I am a 75 year old solo sailor, by choice. However, I did take on a personable, but high maintenance female kitten, now a full grown cat, named KiKiPoo when she is sweet, or KatKatPo after she has just killed something like a bird or bat. [...]
Extra:
Although I was a lawyer and practiced law with good success for thirty years, creating significant new law, I never really believed in the law, the politics of law or in the over reaching self-interest of most lawyers I met. Too much exposure to Nietzsche and other good and seriously thoughtful [...]
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Profile

Who: Kimball Corson. Text and Photos not disclaimed or that are obviously not mine are copyright (c) Kimball Corson 2004-2016
Port: Lake Pleasant, AZ