There is a book by that title coming out soon about the financial meltdown in Greece and the spreading effects.
As this Times article relates, the parents and earlier generations are being blamed. Will our children and grandchildren react this way after we allow our government to destroy and "transform" America? Could be. Something to think about.
"The question of who was to blame and who should pay for the greatest crisis to afflict the single currency was a subject of heated debate, particularly after a leading credit rating agency put the cradle of civilisation in the same category as Azerbaijan by reducing its (Greece) government bonds to “junk” status. "
Hasn't Moody's talked about America's rating being reduced? There is a "rescue" package being discussed for Greece but only if they are willing to make concessions in their entitlement programs among other stated conditions for the bailout. Citizens are not all willing to do that. Would Americans be willing to having to make across the board concessions?
Would U.S. government employees be willing to take a cut? Would social security recipients be willing to take a cut? When was the last time any of you got a raise? Why is it only the average worker that is currently making concessions?
In Greece public sector workers can retire as early as 45 with paid benefits and retirement pay. Many Greek workers are paid 14 months salary.
How long did they think the system could support this kind of overly generous compensation?
And of course they are the epitome of what is beginning here, overly restrictive regulations on business.
We need to watch this carefully, this is our current path. We do not need to "look at what the rest of the industrialized nations are doing". They are sinking. We have always been different, in my opinion better. We should be leading the way, not following the leader. Shall we sink with them?
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