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The wheels come off Greece's crisis may come here
The New York Post ^ | June 29, 2011 | Michael A. Walsh

Posted on 06/30/2011 3:20:43 PM PDT by Clintonfatigued

A zero-sum mentality regarding capital and labor has brought Europe to its present pass -- and Americans should be worried. Because what's happening in the cradle of democracy could be coming here.

Not the rioting -- Americans rarely take to the streets in violent protest. But Greece ought to be a wake-up call. With the national debt standing at more than $14 trillion -- and as much as 10 times that in unfunded liabilities and other obligations -- America's on a path every bit as unsustainable as the Greeks'.

Whether they, or we, want to admit it, the party's over. The only questions now are how bad the mess will get, who's going to clean it up -- and how loud the screaming's going to be.

(Excerpt) Read more at nypost.com ...


TOPICS: Business/Economy; Editorial; Government
KEYWORDS: debt; default; economy; europeanunion; greece; teachers

1 posted on 06/30/2011 3:20:53 PM PDT by Clintonfatigued
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To: Kaslin; SunkenCiv; bamahead; traviskicks; neverdem; JulieRNR21; ExTexasRedhead

If we can keep going until 2013 and Obama is voted out of office, there is still hope. Now THAT’S hope and change I can believe in.


2 posted on 06/30/2011 3:22:49 PM PDT by Clintonfatigued (Illegal aliens collect welfare checks that Americans won't collect)
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To: Clintonfatigued
Not the rioting -- Americans rarely take to the streets in violent protest.

We are not looking ahead to ordinary times. The rioting could well just be the beginning.

3 posted on 06/30/2011 3:23:36 PM PDT by Pan_Yan (Those that despise people will never get the best out of others and themselves. Tocqueville)
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To: Clintonfatigued

When those that feel they have a right to entitlements stop getting them....


4 posted on 06/30/2011 3:23:41 PM PDT by NoLibZone (Be respectful, be courteous, have a plan to kill every flash mob member that threatens you or others)
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To: Clintonfatigued

Haircut is coming!!!


5 posted on 06/30/2011 3:24:05 PM PDT by mountainlion (The time to be on guard against tyranny is before it has gotten you Thomas Jefferson)
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To: Clintonfatigued
I recently corrected a headline on another thread before comprehending it completely, and embarrassed the hell out of myself in the process. So I'll ask this time...is it just me, or is that headline badly in need of some punctuation? As in:

The wheels come off Greece's crisis; may come here, or

The wheels come off; Greece's crisis may come here

Maybe the NY Post has laid off the editor in charge of writing headlines?

Scouts Out! Cavalry Ho!

6 posted on 06/30/2011 3:28:43 PM PDT by wku man (Who says conservatives don't rock? http://www.bigdawgmusicmafia.com)
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To: Clintonfatigued

I’m amazed at the number of “experts” and economists who can’t grasp basic math.


7 posted on 06/30/2011 3:29:47 PM PDT by mgstarr ("Some of us drink because we're not poets." Arthur (1981))
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To: Clintonfatigued

We live in interesting times. See my new tagline.


8 posted on 06/30/2011 3:38:05 PM PDT by SoCal SoCon (Yesterday Argentina, Today Greece, Tomorrow America)
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To: Clintonfatigued

-——Americans rarely take to the streets in violent protest——

Feral urban Americans don’t protest, they just loot and burn


9 posted on 06/30/2011 3:39:46 PM PDT by bert (K.E. N.P. N.C. D.E. +12 ....( History is a process, not an event ))
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To: Clintonfatigued

You get out of debt by working. This isn’t rocket science.

Exploit your natural resources - drill and mine. These activities are wealth multipliers. If the eco-fascists get in the way, ship them to North Korea.

No more Mr. Nice Guy. Either the leftist rooting pigs chip in and work or they get a one-way ticket to join their commie cousins.


10 posted on 06/30/2011 3:40:21 PM PDT by sergeantdave (The democrat party is a seditious organization that must be outlawed)
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To: Clintonfatigued
Whether they, or we, want to admit it, the party's over.
I've worked my @ss off for 40 years. What party?
And if he means the welfare for life scumbags are going to riot here, then I say we call out the NG and shoot 'em on sight.
11 posted on 06/30/2011 3:43:28 PM PDT by oh8eleven (RVN '67-'68)
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To: Clintonfatigued
"Not the rioting -- Americans rarely take to the streets in violent protest."

LOL! Listen beyond the first two minutes for the more honest comments.

Jim Rogers Interview on Dollar, Commodities From June 10
http://www.bloomberg.com/video/70751156/
[Bloomberg title and link only. Do not post any content from Bloomberg to FR.]


12 posted on 06/30/2011 3:44:59 PM PDT by familyop (We Baby Boomers are croaking in a thunderous avalanche of rottenness smelled around the earth.)
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To: Clintonfatigued
Americans rarely take to the streets in violent protest.

Apparently the writer wasn't around in the 60's, especially '68.

13 posted on 06/30/2011 3:45:52 PM PDT by OB1kNOb (Financial Repression.......it answers a lot of questions.....read about it on FinancialSense.com.)
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To: Clintonfatigued

As a country we are at that awkward stage, to late to make changes from within the system, too early to shoot the bast**ds.


14 posted on 06/30/2011 3:50:09 PM PDT by mlmr (Angry with what leftists are doing to our country, our children and our culture...)
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To: Clintonfatigued

“Americans rarely take to the streets in violent protest”
I know that blacks, mexicans and liberals will take to the streets if their access to the public teat is curtailed or cut.


15 posted on 06/30/2011 3:52:50 PM PDT by Scotsman will be Free (11C - Indirect fire, infantry - High angle hell - We will bring you, FIRE)
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To: sergeantdave
If the eco-fascists get in the way, ship them to North Korea.

Bury them in the tailings. Alive.

16 posted on 06/30/2011 3:54:16 PM PDT by Noumenon ("One man with courage is a majority." - Thomas Jefferson)
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To: wku man

Thousands flee, storm peters out


17 posted on 06/30/2011 4:13:50 PM PDT by preacher (A government which robs from Peter to pay Paul will always have the support of Paul.)
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To: Clintonfatigued

“Greece’s crisis”

Say that five times and it starts to sounds weird. Hey, doesn’t hurt to take diversion where you can find it while you’re going bankrupt.


18 posted on 06/30/2011 4:29:43 PM PDT by Prince Caspian
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To: Clintonfatigued

Most of us won’t riot.... most.


19 posted on 06/30/2011 4:33:04 PM PDT by GOPJ (Black flash mobs: street level reflections of elite liberal hate for middle class America..)
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To: sergeantdave

“Exploit your natural resources - drill and mine.”

I recall reading that is how Germany got of their Depression back in the thirties. Well, they exploited Poland’s, Hungary’s, etc. resources (including people) - but it is the same idea.

ANWR, the Western coal fields, oil shale, the oceans, all within our reach if we could overthrow the existing government (or at least the rules) that has put up borders around them.


20 posted on 06/30/2011 4:38:52 PM PDT by 21twelve (Obama Recreating the New Deal: http://www.freerepublic.com/focus/f-news/2185147/posts)
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To: Pan_Yan

You are spot on about the potential for rioting. For one thing, the author seems to have a rather spotty view of history if he thinks Americans won’t riot; for a second, we’ve never been as loaded down with parasites as we are now, and as Greece is demonstrating in spades, it is the parasites who lead the riots.


21 posted on 06/30/2011 4:43:49 PM PDT by Oceander (The phrase "good enough for government work" is not meant as a compliment)
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To: OB1kNOb

Yep, And remember Rodney King and “Cant we all get along” riots?


22 posted on 06/30/2011 4:50:55 PM PDT by jafojeffsurf (Return to the Constitution.)
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To: Scotsman will be Free

How long was that coma you just got out of?

It’s already happening with the commie union trash in Wisconsin and the flash mobs youts in Chicago and Philly.

LaRaza gets tax dollars.

Cloward-Piven’s a bitch.


23 posted on 06/30/2011 4:52:21 PM PDT by MikeSteelBe (Austrian Hitler was as the Halfrican Hitler does.)
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To: OB1kNOb

Oh Yea did not Lincoln have a little Riot problem back in 1863? Guess the writer forgot some history conveniently. We may not see it every day of the week, but it surely is not impossible here...


24 posted on 06/30/2011 4:56:28 PM PDT by jafojeffsurf (Return to the Constitution.)
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To: MikeSteelBe

Don’t worry, Greece will default, even with this new infusion of ECM money the Greeks cannot pay of their debt, and the new interest imposed on them will assure that they will sink. Too bad as Greece is the Cradle of Democracy, they invented the monetary system using gold and silver, but alas they got into a war and need more money than they had in gold or silver, so some old wise Greek, said well we have this idle printing press why don’t we crank it up as start printing money, and just tell people it is good as gold. The rest is history.


25 posted on 06/30/2011 4:59:39 PM PDT by BooBoo1000 (The Mills of the Gods grind slow, but exceedingly fine.)
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To: Clintonfatigued
Not the rioting -- Americans rarely take to the streets in violent protest.

Of course they do, Holder's people are doing it all the time.

Cut welfare benefits in this country and you'll see all out war in the streets of major cities.

26 posted on 06/30/2011 5:07:48 PM PDT by Graybeard58
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To: Clintonfatigued

Take a good look - this is what a socialist state looks like.

(America or Greece?)

Yes.


27 posted on 06/30/2011 5:12:20 PM PDT by Tzimisce (Never forget that the American Revolution began when the British tried to disarm the colonists.)
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To: MikeSteelBe

It has hardly reached the level of the rioting in Greece. I suggest that you refrain from insults right from the get go.


28 posted on 06/30/2011 5:13:17 PM PDT by Scotsman will be Free (11C - Indirect fire, infantry - High angle hell - We will bring you, FIRE)
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To: 21twelve; Noumenon

Stupid me. I forgot logging.

Chicago, St. Louis and other formerly great Midwestern cities were built by loggers in the 19th century. These cities can be great again by forming vigilance committees to clean them out.

We can drill, log and mine our way out of debt. And maybe plant a few million acres of crops on the side to reward us with ice cream cones for a job well done.

All the pig leftist food police get shipped one-way to North Korea with the eco-Nazis. We’ll give each leftist a lunch bag with a bologna sandwich, a bottle of pop, a bag of chips and a hand grenade. Let them sort out their pecking order in the middle of the Pacific Ocean.


29 posted on 06/30/2011 5:15:42 PM PDT by sergeantdave (The democrat party is a seditious organization that must be outlawed)
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To: sergeantdave

Funny - I was thinking about logging as well after I posted. Here in Washington state, a large part of the educational budget is from logging. Of course most of that logging is now off limits, too expensive with environmental permits, etc. Sad to see entire towns that are still trying to hang on, but tough to do with so little logging going on anymore.


30 posted on 06/30/2011 5:25:38 PM PDT by 21twelve (Obama Recreating the New Deal: http://www.freerepublic.com/focus/f-news/2185147/posts)
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To: GOPsterinMA

“Americans rarely take to the streets in violent protest”

I haven’t heard of any wide-spread violent protests in the U.S. since the early 1970’s. But if the crisis gets worse here and government benefits have to be cut off, who knows what’ll happen? I wonder if it will be more pronounced in the so-called “blue” constituancies than the “red” constituancies? It’s an awkward topic, but this could come into play.


31 posted on 06/30/2011 5:31:06 PM PDT by Clintonfatigued (Illegal aliens collect welfare checks that Americans won't collect)
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To: wku man

No, you’re absolutely correct. Could also be: The Wheels Come Off: Greece’s crisis may come here


32 posted on 06/30/2011 5:37:35 PM PDT by RightOnline
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To: Clintonfatigued

Americans rarely take to the streets in violent protest

After watching the educated and $100,000 plus group in Wisconsin behave the way they did over their unmet demands, I fully expect the the progressives to get progressively more violent. Add the uneducated recipient class the the usual anarchist crowd and union goons joining forces and we’re likely to experience uncontrolled violence and the unraveling of our civil society. It won’t help a bit that some of our leaders will give a subdued wink privately while pleading for calm and civil order publicly.

It’s going to happen. Too many have too much to lose.


33 posted on 06/30/2011 5:41:24 PM PDT by Joan Kerrey
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To: Clintonfatigued

“I wonder if it will be more pronounced in the so-called “blue” constituancies than the “red” constituancies?”

The large urban areas (which are most, if not all “Blue”) would go ape sh*t. I would then speculate they would try to take from the “Red” areas. That’s when it would get real interesting, real fast.


34 posted on 06/30/2011 5:50:46 PM PDT by GOPsterinMA (Perry/Bachmann 2012 - they can share hair care products.)
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To: sergeantdave

I like your approach, sir.


35 posted on 06/30/2011 6:26:21 PM PDT by Noumenon ("One man with courage is a majority." - Thomas Jefferson)
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To: Clintonfatigued; AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; ...

:’) Thanks Clintonfatigued.


36 posted on 06/30/2011 6:35:46 PM PDT by SunkenCiv (It's the Obamacare, stupid! -- Thanks Cincinna for this link -- http://www.friendsofitamar.org)
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To: Clintonfatigued
A zero-sum mentality regarding capital and labor

= the socialists have run out of other people's money.

37 posted on 06/30/2011 6:48:22 PM PDT by Lancey Howard
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To: Clintonfatigued; seekthetruth

REPEALING OBAMA 2012 is the only solution....I hope Americans realize that and vote for real change!

As Dame Thacher said.....’Socialism works only until you run out of other people’s money.”


38 posted on 06/30/2011 7:51:44 PM PDT by JulieRNR21 (The Constitution is an instrument to protect 'We the People' from the government..)
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To: Clintonfatigued
CBO: $120 trillion: The shocking true size of our nation's debt
Michael D. Tanner is a senior fellow at the Cato Institute.
OP-ED NY POST, 6/26/11

EXCERPT The CBO released a new report this week showing that the federal government’s publicly held debt would top 101% of GDP by 2021, more than the value of everything produced in this country over the course of a year. By 2035, the publicly held debt, CBO says, could top an almost unfathomable 190% of GDP. And that was the good news. The federal government actually has three different types of debt.

(1) Debt held by the public, the type of government bonds that you — or the Chinese government — might own. Growing levels of publicly held debt can drive up interest rates in the long-run, and may already be choking off interbank lending.

(2) There is “intragovernmental” debt---debt that the federal government owes itself, such as to the so-called Social Security Trust Fund. Intragovernmental debt exceeds $4.6 trillion. The good news here is that it is not projected to grow much ..... because both SSS and Medicare are already running deficits — there’s nothing left to steal.

(3) "Implicit govt debt”.......unfunded obligations of programs such as Social Security and Medicare — that is owed in benefits in excess of the amount of taxes that they expect to take in.

-- SNIP-- long read--

39 posted on 06/30/2011 8:18:47 PM PDT by Liz ( A taxpayer voting for Obama is like a chicken voting for Col Sanders.)
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To: Clintonfatigued

They will come here. One of two things will happen to cause it. 1. The Republicans will cave and raise the debt ceiling. 2. Because we now have a Congress in name only and a Constitution in name only, obama, acting on his own will raise the debt ceiling.


40 posted on 06/30/2011 8:21:42 PM PDT by sport
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To: Liz

That’s not something one can easily read just before going to bed. I didn’t know that there was 120 trillion of anything.


41 posted on 06/30/2011 9:58:33 PM PDT by Clintonfatigued (Illegal aliens collect welfare checks that Americans won't collect)
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To: Clintonfatigued

I watched a detachment of U.S. Marines heading up I-5 from Camp Pendleton to Los Angeles in 1992. White bus after white bus filled with troops, dozens of LAVS with the commanders head poking out the top. Quite the sight, I’ll tell you. Maybe you missed the whole Rodney King thing back then.


42 posted on 06/30/2011 11:40:40 PM PDT by SoCal Pubbie
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To: Scotsman will be Free

I apologize.

There is a lot of normalcy bias out there, and it is going to destroy out country as surely as it did Germany in the 30s-40s.

My choice of language is not meant as a personal attack, but as a verbal jolt to those not aware of how bad things really are in this country, as for as a minority rule of tyranny taking over.


43 posted on 07/01/2011 6:37:23 AM PDT by MikeSteelBe (Austrian Hitler was as the Halfrican Hitler does.)
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To: MikeSteelBe

Apology accepted. I understand your frustration. I feel it as well. Sometimes I feel like grabbing a hair hold, face planting ‘em and then askin’ if they’ve got a clue yet.


44 posted on 07/01/2011 1:22:58 PM PDT by Scotsman will be Free (11C - Indirect fire, infantry - High angle hell - We will bring you, FIRE)
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To: Clintonfatigued

yes


45 posted on 09/25/2011 6:35:34 PM PDT by mlmr (Angry with what leftists are doing to our country, our children and our culture...)
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To: mlmr

yest again


46 posted on 09/25/2011 6:37:19 PM PDT by mlmr (Angry with what leftists are doing to our country, our children and our culture...)
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