No, collectivized systems can't escape the Petri dish until they starve themselves to death. See below... (there is no positive feedback loop)
What is poignant is even though he knows a GrExit is the only way they have any power over the situation, he says his elected mandate from the people was to negotiate for a compromise and debt relief. And he said only 2 of the 8 wanted a GrExit after the referendum mandate from the people not to accept the prior bailout package, and that he believes in the democratic process and collectivized responsibility so he accepted the will of the 6 of 8.
That is direct proof that I was correct when I wrote the following in 2010 (which was widely published by the way, just google "Understand Everything Fundamentally").
I think I understand this better than Armstrong does.
Perhaps the Troika will use the big stick of capital controls to induce the Greeks to vote for the Troika's bailout terms which contains a few carrots with more austerity.
The referendum is some sham to convince the Europeans they are not under a dictatorship, as was the case for Scotland.
Remember my prediction in 2010 in the "Understanding Everything Fundamentally" essay.
I will be the first to admit I needed a week to fully absorb the following works of AnonyMint.
The Rise of Knowledge
Understand Everything Fundamentally
http://www.coolpage.com/commentary/economic/shelby/Understand%20Everything%20Fundamentally.html#europe
"Coase’s theorem says that an inefficient internal order will continue for as long as there remains an unavoidable frictional barrier insulating it from the more efficient external possibilities. The fundamental reason the EU crisis will not result in a disintegration of the union, at least not until its people significantly abandon collectivism, is that organisms which are unable to comprehend the mechanism by which they are consuming resources faster than their ecosystem can replenish, thus are unable to stop the mechanism before they perish. So the implosion of the friction and thus the order only occurs when they perish, because they will continue to repeat the mechanism which they do not understand to be a cause of their suffering. This can be verified in a petri dish, as an organism will reproduce until it consumes all of its food or oxygen."
This is relevant also:
P.S. This myopia is also related to why Armstrong's proposed solutions for Greece and the sovereign debt crisis in general are untenable at best, and even if they could be implemented they would be a horrible result for mainstreet over the long-term, because all his proposals involve the centralization of power. I have explained why in prior posts about them. For example, the only way Greece could survive a GrExit would be with the access to international markets, but the axis powers are complicit. As for the debt for equity swap Armstrong proposes (sovereign debt exchanged for corporate shares), I explained in the past that this requires that investors have a fungible valuation of disparate companies. The only way that proposal is workable is if it is basically transferring a basket of all public companies to a single entity that holds all the debt, i.e. the TPTB. It is just same FDR gold swindle in disguise all over again. I really think Armstrong works for TPTB. He is advocating a one-world currency reserve and world domination by TPTB. That is coming and inevitable, and our escape is the Knowledge Age and our own decentralized, scalable, anonymous cryptocurrency.