I’m not versed in European history, but we seem to see this movie many times.
Interesting though that it isn’t the workers rising up against the capitalists and industry. Rather those who receive government benefits rising up against the government cutting their benefits.
Hopefully this isn’t us in five or ten years.
Us in 5 to 10 years? Try the end of this years or sooner.
A remember about 5 years ago, Larry Kudlow was predicting this was coming to Europe. He was commenting on the Paris rioting over them trying to raise the hourly work week and make it easier for employers to fire non-productive workers.
He said Europe was due for a major economic spanking and it wasn’t going to be pretty. That’s its socialist model of public sector subsides for the majority of their job creation was a total recipe for disaster. Because their abysmal private business development created such low GDP rates, and bloated pension and welfare benefits that promised payouts in the millions for paying very little into it (are you listening California????) had so crossed the point of no return line, that major recessions and entire governments declaring bankruptcy was on the way.
This movie’s worse - it’s gonna jump off the screen and infect us all...
Five or ten years? What an optimist.
Ooooooo... I certainly hope so. The moochers out in the open - bring it on. Loot my part of town, baby! I’ve got a little friend I want you to say hello to.
Greece has been a mess for decades. There is a really strong communist element in Greece, and it has been riddled with domestic strife since long before the 2nd World War.
What's happening today in Greece I believe foreshadows what is to come in many of the European countries with over-indulgent social programs.
Too many people have become far too accustomed to government largess. It's an unsustainable model.
Socialism is a drug disorder. Besides getting people hooked, it distorts reality. Goods and services cease to be necessities or luxuries, and become rights to be paid for by others. When the pipeline fails, the addicts go bonkers.
Fact: the US is only a handful - one handful, not two - of years behind Greece in terms of debt to income ratio. Plan accordingly.
In countries like Greece, “the workers” and “those who receive government benefits” are often the same people. I’m sure there’s a fair share of unemployed layabouts, but these countries give benefits for EVERYTHING. It’s unsustainable, but people get used to the entitlements.
Gee...ain’t dat dere socialism jes’ absolulllly wunnnerfull???
Just ask any Democrat...