Who is John Galt? And Where?
I don't know how many people are paying attention to what is going on in Greece but they had better start because I believe it will be coming to a city near you in the near future. So what is going on in Greece? I will tell you and see if any of this sounds familiar to any of you in the United States or anywhere else in the civilized world for that matter. In Greece they have had a socialist government for years with uncontrolled spending, cheap lending, and massive entitlement programs. The countries National debt, put at €300 billion ($413.6 billion), is bigger than the country's economy, with some estimates predicting it will reach 120 percent of gross domestic product in 2010. The country's deficit -- how much more it spends than it takes in -- is 12.7 percent.
Greece's credit rating -- the assessment of its ability to repay its debts -- has been downgraded to the lowest in the eurozone, meaning that foreign investors will be scared away leaving the country struggling to pay its bills as interest rates on existing debts rise.
So what do you think Greece is doing to try and get its tumbling economy back on track? Well they are doing one thing that needs to be done and the other is just suicide. Good Luck Greece. First the good: The government has started slashing away at spending, raised the retirement age by two years, and imposed public sector pay cuts. Now for the stupid thing they are doing: THEY ARE RAISING TAXES. That's right raising taxes while cutting pay.
Now here is a good point for all of you "it can't happen here in America" types. Question- what do you think America will look like if and hopefully when we get rid of social security, medicare, and other entitlements that our government has hooked people on? Thats right... withdrawls and they ain't pretty. I mean for God's sake lets see what we have in common with Greece:
Massive Debt: Check
Massive socialist entitlement programs: Check
Socialist/Progressive policies and leaders: Check
So whats next for us? Well probably a downgrade in our credit rating, Greece will fail, Portugal, England, Italy, Spain, and Ireland will follow, along with us The United States of America. Make no mistake about socialism never works, it is always a miserable failure and the living hell we all are about to go through should be proof positive. I mean really, ask yourselves our your progressive friends to explain why Europe is on the bring of destruction? Kind of obvious isn't it? Yet our President our progressive leaders, and idiot liberals across America want us to be more like Europe? No thanks!!! We are already to close to them for my comfort, but hopefully far enough away still to see it coming and prepare.
Now here is a good point for all of you "it can't happen here in America" types. Question- what do you think America will look like if and hopefully when we get rid of social security, medicare, and other entitlements that our government has hooked people on? Thats right... withdrawls and they ain't pretty. I mean for God's sake lets see what we have in common with Greece:
Massive Debt: Check
Massive socialist entitlement programs: Check
Socialist/Progressive policies and leaders: Check
So whats next for us? Well probably a downgrade in our credit rating, Greece will fail, Portugal, England, Italy, Spain, and Ireland will follow, along with us The United States of America. Make no mistake about socialism never works, it is always a miserable failure and the living hell we all are about to go through should be proof positive. I mean really, ask yourselves our your progressive friends to explain why Europe is on the bring of destruction? Kind of obvious isn't it? Yet our President our progressive leaders, and idiot liberals across America want us to be more like Europe? No thanks!!! We are already to close to them for my comfort, but hopefully far enough away still to see it coming and prepare.
No comments:
Post a Comment