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Wall Street is taking a beating because of the crisis in Greece.
Greece has always been a big entitlement country and now the government can’t afford it anymore so there is rioting all over the place from people who are upset that they their benefits are being reduced.
I wonder if (or how) the Wall Street problems will lead to problems with real estate.
I think credit will get even tighter.
We have a very fragile economy now.
The NYT article about this was quite revealing. They said they needed to reduce social programs such as HEALTH CARE to diminish the costs that are hurting the states. The two options as I see them are massive change away from state controlled everything or this country enjoys a depression that made the one in the 20s and 30s look like a walk in the park. Our society has changed enough since that point that we would not be able to recover for several generations. The people in the 20s knew how to work and had generally good attitudes. We do not.
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