Must-See Video: How Greeks Are Building Alternative Economic Networks

Gary North

April 7, 2012

The video is on the site of The Guardian, a pro-Labor British news site. There is no embed option. You must click through.

Here, we see what happens when a recession becomes a depression.

There is a center that feeds meals to over 1,000 people a day.

There is a free online education system that provides tutorials. The teachers are volunteers from all over the EU.

There are barter organizations.

There is a potato program. Customers buy potatoes at 2/3 off. How? Because they pay the producer directly. He was being stiffed by retailers, who delayed payment by a year. They owe him a staggering $650,000. He prefers less money paid up front.

People are resourceful when they must be. In hard times, they respond.

This is a major Western nation whose leaders thought they could live on cooked books and perpetual debt. The voters thought the same. In short, it is like the United States. Greece finally ran out of credit at low rates. So will the United States.

Here is what's coming.

http://www.guardian.co.uk/world/video/2012/mar/27/greece-breadline-debt-crisis-video

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