Jason Pye has the skinny on how the US is going to go the way of Greece and we're going to have rioting in the streets because of our deficit and out of control spending...
It's time to realize that the fiscal crisis we face is going to be similar to what Greece has experienced, and may come with the riots we've seen on TV as the government is forced to scale back welfare programs.
hmmm... So why are Treasury yields trading below 3.6 per cent? Do they know something the markets don't know?
Serious commentators have hit on it time and time again that Greece and the US are terrible comparisons--although a lot of people making the comparison also claimed the stimulus wouldn't grow the economy, so go figure.
Long term deficits boil down to health care costs... not really rocket science... [the budget calculator doesn't like Internet Explorer go use Firefox]
Rioting in the streets... yikes...
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