Our Omas and Opas were right all along.
Just ghastly what is playing out in front of our eyes. A Greek tragedy. Whom to blame is one of those eternal questions. When two sides fight, the innocent bystanders usually suffer the consequence. I would be highly surprised if the current members of the Greek Government have any personal poverty issues. Those issues which a lot of their populace are grappling with. No work, no food, no home...
For some reason ( and an ingenious one at that because big business made bigger business! ) the past two generations worldwide, have been indoctrinated with the idea that if you don't have the ready money ( ie. cash ) don't worry, the banks are here to lend it to you. At a price, as bankers need a good life too.
Whereas our grandparent's generation only bought big items when they could afford it, we are too prone to whip out our credit card or take out a loan, never wondering if and whether we can really afford it.
When you go around any neighbourhood, chances are, that the house your friends have and that house you are envious of, actually belongs to the bank. And for a jolly long time too!
Our credit funded surreal lifestyle has come crashing down with a heavy thud. The bubble has burst and reality should set in. If all along we had lived within our means ( collectively that is ), most of the modern problems wouldn't be of concern to us. Suddenly all those silly, needless items we charged to our credit card seem to have been a huge folly...
For years, those clever older individuals who perhaps stuffed their money into a mattress because they didn't trust banks, were ridiculed and parodied. But who is having the last laugh now? Oh yes, it sends chills down everyone's spine to think that all your money in the bank might become a statistic on your resume...had it for a while and then it was gone, just like that.
Cash only might be a sign popping up in a neighbourhood shop near you.