Chaos in Greece – Could this Be Us?
The protests in Greece should not be ignored. This is not a Third World country experiencing another uprising. The protests are more about the past mistakes of government than about current spending cuts. The protesters are upset that those in government who made the poor decisions are not being asked to share in the consequences. Could this happen to us?
Many Americans have expressed concern through repeated disgorgement of stimulus and bailout billions that their children and grandchildren will pay an unbearable price for mistakes not of their making.
Taxpayer dollars continue to flow by the billions into the mortgage Titanics known as Fannie Mae and Freddie Mac. (Source) Some experts believe that the Chinese economy – mostly fueled by real estate development – is headed for a crash soon. (Source) That can’t be good for our economy.
One observer’s take on the Greek protests:
The protests also brought out many Greeks who were resigned to belt-tightening. Their unhappiness at the cuts was matched with rancor toward a generation of politicians who they say spurred the crisis with decades of corruption, kickbacks and accounting legerdemain aimed at obscuring to the EU the true level of Greece’s annual deficits.
(Source) Sound familiar?
These sentiments sound a lot like Tea Party members. What will happen if more moderate U.S. voices join in these protests, spurred on by unsustainable tax burdens and employment levels for our youth that never recover?
I’m not planning to take to the streets like the Greeks. But for personal and family preservation, everything lawful is on the table.
Are you planning for a worst case scenario? Should you be?