There is a lesson here for us: "Greece is implementing spending cuts but concerns have mounted in recent days because tax revenues have disappointed as the austerity programme squeezes the economy." Government dependent economies crater when government is forced to cut spending. It's like choosing between the DTs or blood poisoning and most addicts choose to continue the binge until forced into rehab, like Greece was. Who or what will force the US into rehab, or will we binge ourselves into oblivion?
Fears grow over Greek debt default despite bail-out - Telegraph: www.telegraph.co.uk/finance/economics/gilts/845207....html
http://chum.ly/n/830c48
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