Article

2012-02-08 Europe

Greece "caves in" on civil service firings

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Posted by Steve White 2012-02-08 00:00|| || Front Page|| [1 views ] Top

#1 The haircuts will get still worse. And the spending cuts will come, when they can't find any more suckers to lend (give) them money. Of course something similar will eventually hit our shores too. So far we're being subtle about it by effectively devaluing savings, but there's only a finite amount to devalue and when they're gone the money will have to come from ??? Increased taxes? Then when that runs out? Bottom line everywhere is 'that which cannot continue forever, will not.'

Posted by Glenmore 2012-02-08 07:20|| 2012-02-08 07:20|| Front Page Top

#2 > What happens when they've looted all the savings?

Stopping proper maintenance of infrastructure..

Posted by Bright Pebbles 2012-02-08 09:41|| 2012-02-08 09:41|| Front Page Top

#3 We've been doing that in the US of A, BP, for many years. That's why the bridges and highways - which could "pay their own way" - are now crumbling, and there is no money to take care of them or replace them.

Our railroads did that for years, peaking in the 70's and 80's, but now they are in tip-top shape. Since they were de-regulated in the 1980's.

Posted by Bobby 2012-02-08 11:16|| 2012-02-08 11:16|| Front Page Top

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