Wednesday, May 5, 2010

Greece Fire

"You go. We go."
--Lt Steven McCaffrey (Backdraft)

Can't help but wonder whether Greece is a microcosm of things to come. A country that spent lavishly on gov't programs w/ no productivity to support it. Had to borrow to keep it going. Now there's no way to pay debt back. And people riot at the notion that their entitlements will be cut.

Of course, big diff between Greece and US is that we own the monetary printing press.

What we're seeing is market forces/natural law coming to bear on a centrally planned, socialist system.

Set of factors surrounding Greece mirror the general world situation.

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