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IPFS News Link • Economy - Economics USA
Most of us who are aware of world financial trends know that earlier
this year thousands of Greeks took to the street and mercilessly engaged
in destruction of property around Athens. They were upset about having
to tighten their belts in the wake of the possibility that some of their
entitlements will have to be cut and their retirement postponed past
age 57. In short, they were upset that the freebies they had come to
take for granted may have to be reduced, even completely cut. Few of
them seemed to have a clue about how one cannot get blood out of a
turnip. After decades of living off the work and incomes of other people
and future generations – via borrowed funds – the gravy train is very
likely to reach its termination point.
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