The next phase of the Greek crisis is coming now. There are 3 million retired people and only 2 million working people whose pension contributions become pay for the retired. That can’t work.
At the same time, the country is flooded by the so-called refugees and has to take care of them.
Large debt payments are coming due, and there is no money. Obviously, the EU has to “pretend and extend.”
And that is how the bill for 50 years of extravagant spending by governments around the world is coming due, approximately all around the same time. And that is why governments are so desperate in trying to create inflation. Inflation makes all the debt smaller in real terms, and the payments on the debt and pension smaller.
The only problem: inflation is declining, and deflationary forces are accelerating as the global mountain of debt crumbles.