Friday, March 9, 2012

Greece is Sinking

This is what happens when you have a crony-capitalism/welfare state.

In Greece, for the first time on record, more people between 15-24 years are without a job than with one. Unemployment in that age group rose to 51.1 percent, twice as high as three years ago.

And that doesn't take into account the many youth who have left the country seeking work elsewhere.

Greece is just an advanced state in terms of economic despair, but Spain and Italy are not far behind. Then who? The U.S.?

When you continue to take from the productive, pass it out to the unproductive, eventually there are not enough productive to support the structure and it collapses.

In the U.S., they will try to print dollars to support the structure, but that will only lead to more economic destruction by massive price inflation.

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