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May 16 2012

Close on Greece’s Heels

Spendthrift socialism has brought Greece to the brink of collapse:

Europe’s financial crisis lurched into a perilous new phase as dire predictions emerged of a collapse in Greece’s economy, with a run on its banks bringing an inevitable end to its membership of the euro. …

Raising tensions still further, Germany warned Greek voters that the wrong result in next month’s election will force their country out of the single currency.

Greece’s president warned, perhaps most alarmingly, that its banks risk running out of money, posing a “threat to our national existence”.

The run on Greek banks is already underway:

Political leaders in Athens were due to discuss an emergency government Wednesday to deal with a possible run on banks as it emerged Greeks withdrew almost $900 million in a single day, fearing their country could crash out of the euro currency by the end of the week.

The good news is that if Germany won’t carry Greece on its back, the USA will.

Now for the really bad news:

spending-per-person

Even as Greece circles the drain with comparably irresponsible Portugal, Spain, and Italy following close behind, the Keynesian moonbats running our country are outspending all of them. Who is going to carry us on their backs after the inevitable collapse?

On tips from Bob Roberts.

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  • Bob Roberts

    Who is going to carry us?

    No one.

    They will likely feast on the spoils, though.

  • AC

    Who is John Galt?

  • Kevin R.

    That’s what Obama calls investing in the future.

  • whotothewhat

    I hope the Euro fails and the EU breaks up. The Euro was designed from the start to be a template for a global currency. The EU was designed as a template for a one world government. Failure of this horrible elitist experiment will ultimately bode well for the world. European countries whether they turn hard left or go hard right will still end up competing with each other and the world for goods and services and educated worker, that would be a good thing.

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