Wednesday, December 15, 2010

Nice Afternoon In Greece

The following is a brief glimpse at this afternoon's events on the streets of Greece.  It shows what happens when a government runs a massive deficit that it cannot pay, and is then forced to make drastic cuts in spending when there is a run on the government debt in the financial markets.



In other news, the Senate is pushing through Obama's tax bill extension this afternoon with no additional cuts to spending in other areas of the budget.

Today our debt is the darling of the world just as subprime was back in 2007. 

After a run on subprime we had a housing meltdown and financial collapse.

After the we get the run on our subprime government debt? 

Please see video above.

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