The Federal Reserve has come to the aid of bailing out Greece. I wonder how many Americans even know that billions of U.S. dollars are going to prop up a failing European country in Greece that got into the mess they are in because of too much debt. In the end, the Euro is still crashing down because Greece is merely one country out of many with massive debt problems. Middle class Americans don’t need an extensive lesson in economics to understand this. If you take on too much debt, at a certain point you will end up paying the piper. This doesn’t matter if you spend too much money on clothing by charging up your credit card or buying a home that you clearly couldn’t afford. In the end, a bill comes due. Unlike Wall Street who operates the Washington D.C. purse strings, you are small enough to fail in their eyes. If you purchase a home that is too expensive, you will either have to pay the mortgage or end up in foreclosure. Giant amounts of debt have ruined individuals as well as countries.
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