Even with that opportunity the game is up. Their debt increases all on it's own. It's gone exponential.
over 40% work for the government.
All the Asian Markets are down again tonight.
Look out..
This just in, socialism doesn’t work.
A nation of addicts is about to run out of crack cocaine.
"Death spiral." Now there's an interesting term. Sort of what one might expect to happen to a culture of death.
Greece Debt spending is 10% of GDP, the real economic standard is down 12.3%, meaning Greece is yet another country in a prolonged economic depression. That level of deficit spending is never sustainable, and the problems are incredible - you might get away with it for a single year, but you then add to the core government commitments of spending - covering that deficit spending plus the interest on that debt. Two years, and you’re cutting out social programs just to service the debt. Four years, and you’re drowning in debt.
The choice is difficult, but real - If Greece tomorrow tore up all the debt, they’d still be in heaps of economic trouble, as they’re adding to their deficit in huge numbers each and every day. All that would happen with debt forgiveness is the need for it to be repeated over and over again.
If we don’t clean house (White and otherwise) we will be here very very soon.
We ran out of fun money a long time ago. Will we learn this lesson? Sad to think that this is people’s lives going down the toilet.
On the bright side, once we hit bottom, there is no where to go but up. Until then, work on your foraging, gardening, and home defense skills.
I hear they haven’t fired a single government employee.... when do they try “austerity”??
Their only trap is of their own making. They could recover tomorrow...but they would have to throw off all the Socialist crap. The first step would be to simply outlaw trade unions...that would get them 10% more GNP overnight (since strikers would just get fired).
And one can continue from there with changing laws in probably every segment of society.
It’s their choice...but it is a choice.
If someone knows the truth, it is the guy at the top of UniCredit [Szalay-Berzeviczy], which we expect to promptly trade limit down once we hit print. Among the stunning allegations (stunning in that an actual banker dares to tell the truth) are the following:
“The euro is “practically dead” and Europe faces a financial earthquake from a Greek default”… “The euro is beyond rescue”… “The only remaining question is how many days the hopeless rearguard action of European governments and the European Central Bank can keep up Greece’s spirits.”….”A Greek default will trigger an immediate “magnitude 10” earthquake across Europe.“…”Holders of Greek government bonds will have to write off their entire investment, the southern European nation will stop paying salaries and pensions and automated teller machines in the country will empty “within minutes.”
In other words: welcome to the Apocalypse…
It should be clear to all that the world’s economy is on life support and the doctors are all ‘quacks’! Sooner or latter are the spinning plates are going to start to tumble and there is going to be on hell of a mess!
What kind of a mess you ask, well I think that we are in for something like the collapse of Argentina ( http://www.youtube.com/watch?v=7yerKMQc7-w&feature=grec_index )but on a global scale. Additionally I think we will see a much more violent version. As recent events show (Flash Mobs, UK riots, etc)we have a larger entitlement minded population and a the US has a much more violent and armed population than Argentina. I see many many small business wiped out by flash mob looting, and see rape, robbery and murder for murder sake. Many of these ‘yutes’ will think no more about killing you than most people think about stepping on a roach. That will be the test of many. Most preppers I know are Christian people and they will hesitate to do what they might have to do to stop the ‘yutes’. On the other hand the ‘yutes’ won’t think twice nor lose a minute of sleep, in fact they will smile and laugh about it.
Think of this quote which is one of my favorites:
“Star Trek: Deep Space Nine: The Siege of AR-558 (#7.8)” (1998)
Quark: Let me tell you something about Hew-mons, Nephew. They’re a wonderful, friendly people, as long as their bellies are full and their holosuites are working. But take away their creature comforts, deprive them of food, sleep, sonic showers, put their lives in jeopardy over an extended period of time and those same friendly, intelligent, wonderful people... will become as nasty and as violent as the most bloodthirsty Klingon. You don’t believe me? Look at those faces. Look in their eyes.
Now go look at some of the videos of the riots in the UK and of some of the flash mobs here in the US and look into there eyes.
For those who are just starting or are old hands at prepping you may find my Preparedness Manual helpfull. You can download it at:
http://www.tomeaker.com/kart/preparedness1i.pdf
For those of you who haven’t started already it’s time to prepare almost past time maybe. You needed to be stocking up on food guns, ammo, basic household supplies like soap, papergoods, cleaning supplies, good sturdy clothes including extra socks, underwear and extra shoes and boots, a extra couple changes of oil and filters for your car, tools, things you buy everyday start buying two and put one up.
As the LDS say “When the emergency is upon us the time for preparedness has past.”
Or as the bible says: A prudent man sees danger and takes refuge, but the simple keep going and suffer for it.
NIV Proverbs 22:3
Lastly this for the doubters and the scoffers.
“There is no greater disaster than to underestimate danger.
Underestimation can be fatal.”
PING!!
Behold the consequences of SOCIALISM...
As Welfare State Collapses, Greeks Suffer and Fear Future: http://www.nytimes.com/2011/09/25/world/europe/as-welfare-state-collapses-greeks-suffer-and-fear-future.html?pagewanted=all
Thatcher was 100% right. In the end, you run out of other people’s money.
They’ve mortgaged their lives for womb to tomb govt. assistance, and wound up with neither. Good going, Greek Lefties.
Greece didn’t have to print any money, they borrowed it from the EU at firesale short term interest rates. Greece produces absolutely nothing that is worth selling, leasing or paying any kind of currency for in any way, but that doesn’t stop the government from handing out other people’s Euros hand over fist.
The Greeks think their heritage requires them to eat, drink, dance and screw, and little else. The entire country lives with their hand out and there isn’t anyone of note who is producing anything of value in Greece (with the exception of Ouzo...). The Greeks cannot even do a proper job of restoring their own ancient ruins, and in truth the best thing for the whole country would be another major eruption of Santorini, wipe the slate completely clean, and start over again.
That is all.
It’s a southern European tourist trap with ethnic appeal to some, for cryin’ out loud. Let it go.
Listen to George Washington, our greatest president.
“Why, by interweaving our destiny with that of any part of Europe, entangle our peace and prosperity in the toils of European ambition, rivalship, interest, humor or caprice?”
“Nothing is more essential, than that permanent, inveterate antipathies against particular Nations, and passionate attachments for others, should be excluded...The Nation, which indulges towards another an habitual hatred, or an habitual fondness, is in some degree a slave. It is a slave to its animosity or to its affection, either of which is sufficient to lead it astray from its duty and its interest.”