Austerity Riots - A Glimpse Of America's Future?End Of The American Dream
Are the austerity protests and riots happening in Greece right now a glimpse of America's future? The truth is that both nations are absolutely drowning in debt. It is just that the "day of reckoning" has already arrived for Greece but it has not arrived for the United States yet. Yes, there are some important differences between the situation in Greece and the situation in the U.S., but there are also some important similarities. Budget cuts and other austerity measures are being promoted by the political leaders of both countries. Greek citizens have reacted very negatively to the economic austerity programs that have been implemented in that nation. As budget cuts on the federal, state and local levels in the United States start to really become painful, will we eventually see the same kind of austerity riots in this country that we are currently seeing in Greece? (Read More.....)
Labels: austerity, End of the American Dream, Greece, riots
Greeks Preparing For A New Wave Of Anti-Austerity RiotsA new poll shows that 7 out of 10 Greeks expect the
economy to deteriorate over the next few months.
More worryingly, an even larger percentage expect a new wave of riots aimed at preventing austerity...
Labels: austerity, Greece, riots
Queen Elizabeth Delivers Message of Austerity In Britain, Rest Of Europe Follows SuitLONDON (AP) — Wearing her diamond-studded crown, Queen Elizabeth II arrived at Parliament in a gleaming horse-drawn carriage to deliver a message of austerity and making do with less in troubled economic times.
The speech laid out the agenda for Britain's new coalition government — but its theme of slashing a record deficit and spurring fragile growth resonated across Europe's ailing economies.
Governments across the continent announced more budget cuts Tuesday, even as their stock markets and the euro were beaten down by investors fearful of stagnant growth and soaring deficits. Even regional powerhouses like France and Germany, with relatively vibrant economies, are beginning to clamp down on spending.
There are no easy solutions. Belt-tightening is an urgent priority but comes with the real danger of stifling growth and launching a double-dip global recession that some experts fear could bring about a "lost decade" like one Japan experienced in the 1990s...
[Full Article]
[Webmaster - This is the perfect example of "Royal Hypocrisy" at it's finest... From beneath her diamond-studded crown, the Queen tells her "subjects" that THEY must learn to make do with less...]Labels: austerity, Britain, Queen Elizabeth
