Think Your Mad About The Economy? Check Out The Riots In Greece.

[twyacht]

Is this our future? The EU is mandating a bailout comes with a price, higher taxes, less gov't entitlements,....how is Europe going to deal with that?

http://online.wsj.com/article/SB10001424052748703961104575225472577513414.html?mod=WSJ_hpp_MIDDLENexttoWhatsNewsTop

ATHENS—Greece's fiscal crisis took a new turn to violence Wednesday when three people died in a firebomb attack amid a paralyzing national strike, while governments from Spain to the U.S. took steps to prevent the widening financial damage from hitting their own economies.

They are protesting in the streets, but are increasingly becoming violent. Aren't we proud to have NOT taken it to this level?,......

yet.?

Could this happen in America?

[CJS3]

They're rioting because the nanny is out of money, and is cutting back on the freebies. From entitlements, to being entitled, to "it's my right". The next step is to declare a national emergency, suspend ALL rights, and use bullets instead of tear gas to break up the riots. This is how you go from the "Cradle of Democracy" to third world country "overnight".

[sledgemeister]

They're rioting because the nanny is out of money, and is cutting back on the freebies. From entitlements, to being entitled, to "it's my right". The next step is to declare a national emergency, suspend ALL rights, and use bullets instead of tear gas to break up the riots. This is how you go from the "Cradle of Democracy" to third world country "overnight".

Spot on!
The European Union is a bloody joke, it shows how much of one when their first hiccup aka Greece and they are in danger of bailing out. Wait till a few other countries start failing, like portugal etc.
Prophecy of the week, European union disolved with in 2 years, War engulfing europe in 3. Shit really hits the fan in 4!

[alfsauve]

I've heard that 1 out of every 3 Greeks work for the government.   And the Government employees refuse to give up any pay or benefits in this down economy.

Watch carefully what unfolds here.   It could foretell what to expect in the US down the road.

[philw]

not a happy bunch of people at the moment

this is after the Socialist government's attempts to reduce the budget deficit with the mesures that the EU has imposed for the 110bil loan


Portugal has said they are also in the crap as well
http://www.businessweek.com/news/2010-05-06/euro-falls-against-dollar-yen-on-debt-crisis-before-ecb-meets.html

Greece doesn’t have the money to pay bond redemptions that total 8.5 billion euros this month and that’s why the country needs an aid package, Finance Minister George Papaconstantinou said today in remarks to parliament in Athens. Greece obtained 110 billion euros in funding from the European Union and the International Monetary Fund in return for cost-cutting measures union groups have called “savage.”
The euro slumped yesterday after Moody’s Investors Service said it may cut Portugal’s credit rating and ECB council member Axel Weber said Greece’s fiscal crisis threatens “grave contagion effects” for other euro members.
Europe’s fiscal crisis could threaten banks in Portugal, Spain, Italy, Ireland and the U.K. as the risk of contagion grows, Moody’s said in a report today. “Each of these countries’ banking systems faces different challenges of different magnitudes, but warns that contagion risk could dilute these differences and impose very real, common threats on all of them,” Moody’s said in the report.

I guess this could be an interesting subject for the Best Defence Survival  with the situation there  as civil order had gone and the place is about to implode from the reports we have been hearing here

[Sponsor]

[alfsauve]

Oh and if you've got some spare money and are into "speculative" investments, Greece was paying 38% interest on government bonds this week.

[crusader rabbit]

Does anyone else fondly remember the "old days" when Pres. Reagan told us all we should have six-month's income in an insured account?  Now, it's more like six-month's food and water and a 6-year supply of ammunition.

This entitlement riot in Greece is just the beginning.  Spain, with 20% unemployment, is bordering on collapse.  Italy is ready to fail.  Portugal has failed already--they just haven't acknowledged it yet.  Sledgemeister is right, but I think he's being too optimistic.  It won't take that long before Europe is at war.

I weep for my country.

Crusader

[billt]

Does anyone else fondly remember the "old days" when Pres. Reagan told us all we should have six-month's income in an insured account?  Now, it's more like six-month's food and water and a 6-year supply of ammunition.

This entitlement riot in Greece is just the beginning.  Spain, with 20% unemployment, is bordering on collapse.  Italy is ready to fail.  Portugal has failed already--they just haven't acknowledged it yet.  Sledgemeister is right, but I think he's being too optimistic.  It won't take that long before Europe is at war.     Crusader

Crusader's assessment is dead on. These people are behaving like this simply because their government has instilled a "Womb to tomb" attitude of entitlement into the minds of their citizens, and have been collecting money in ultra high taxes from them in the process. Now they can't deliver because they've pi$$ed it all away with wild government spending. In the process of all of this they've run the printing presses out of ink inflating their currency to the point of total economic collapse.

Sound familiar? It's like it was read right out of Hussein's play book. What do you think is going to happen here when the baby boomer generation "crosses over" from contributor to recipient of Social Security? Hussein, (or whoever else is President), will either have to, 1.) Print more money. 2.) Borrow more money. 3.) Raise the retirement age for recipients of S.S. 4.) All of the above. Add it up and you've got blood in the streets regardless of how you cut the cake. Someone is going to get it where the Sun never shines. Most likely it will be the baby boomer generation simply because most everyone else doesn't have a pot to pi$$ in, or a window to throw it from.

A country is only worth the sum of it's people. More and more are paying zero income tax every year. That isn't because their rolling in it. This country has always rewarded the spenders, and punished the savers. The current generation has little to no economic common sense. Retirement will be a thing of the past for the next generation unless the government can provide it. They won't be able to simply because they are more broke that the populous. This is just about where Greece is now. You see the results. This will continue to happen in socialistic run countries until the population learns the government can't "give" them anything because a government doesn't produce anything. It is up to the people to produce for themselves. When you've been raised into a socialistic society all of your life, this becomes impossible to accept because it involves hard work, something that doesn't occur much, if at all in a socialistic environment.   Bill T.   

[billt]

This picture that Eric posted in the, "Arizona Immigration Law" thread pretty well sums up the mentality of socialist thinking third world countries, along with people raised in them. In early 40's Germany Hitler would have simply shot these people. At the risk of sounding barbaric, I've heard worse ideas.    Bill T.

[sledgemeister]

Does anyone else fondly remember the "old days" when Pres. Reagan told us all we should have six-month's income in an insured account?  Now, it's more like six-month's food and water and a 6-year supply of ammunition.

This entitlement riot in Greece is just the beginning.  Spain, with 20% unemployment, is bordering on collapse.  Italy is ready to fail.  Portugal has failed already--they just haven't acknowledged it yet.  Sledgemeister is right, but I think he's being too optimistic.  It won't take that long before Europe is at war.

I weep for my country.

Crusader

I was factoring in past war time performances, france will surrender before the war starts, italians will pull the make love not war routine and the poms will  be trying to play good guy with everyone, mean time some country like Germany will say GAGF and invade them all again. I t will take them a while to amass a good war machine and instill national pride. not if, WHEN!