Posted on 05/25/2010 11:22:27 AM PDT by walkwu
Over the last week, stocks worldwide have plummeted due to the bancruptcy and bailout of Greece in the European Union. Other countries, such as Spain, also are going belly-up. America is even threatened by these developments. The question, however, is why is this happening?
The New York Times recently recently stated in an article "Crisis Imperils Liberal Benefitcs Long Expected by Europeans" (http://www.nytimes.com/2010/05/23/world/europe/23europe.html) that the problem rests in large deficits combined with too many entitlements.
This is one of the few times I actually agree with the New York Times. It's a simple matter of basic accounting. When a family is used to living an expensive lifestyle and tough economic times come (as they always do), the family has a choice, continue its lifestyle or cut back on services.
(Excerpt) Read more at freereport.blogtownhall.com ...
Why excerpt from your blog?
It isn’t on the list of sources that must be excerpted:
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californian.com
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chron.com
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csmonitor.com
ctnow.com
daily-chronicle.com
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dj.com
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feer.com (Far Eastern Economic Review)
fresnobee.com
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gallup.com
The Guardian (UK)
gazette.net
GCN.com
goerie.com
greenwichtime.com
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holahoy.com
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iht.com
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jacksonville.com (Florida-Times Union)
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kansascity.com
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Or are you simply trolling for blog hits?
We’re fine. The market closed above 10,000 today. Consumer confidence is high. The recession is ended, except the jobs aren’t coming back but obamacare and cap and tax will create 8 millions new ones to replace them.
Pay no attention to that man behind the curtain.
Shhhhh... he’s special...
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