Watching television this morning we hear the news that Greek protestors still occupy the streets and protests have turned extremely violent. Will it be different in the US?
The Greek government is voting on â€œausterity measuresâ€. Whatâ€™s really happening is that the net present value tables combined with no economic growth have caught up to them.
The jig is up.
The Greek economy is puny. The city of Los Angeles has more economic activity. But the lessons of Greece are large. Here are the two major lessons.
1. Without economic growth, you cannot have a social safety net.
2. Governments create nothing, and are not productive.
Thatâ€™s really all you need to know when you refocus and think about what needs to be done for the US economy.
Read More: http://finance.townhall.com/columnists/jeffcarter/2011/10/21/is_greece_our_future/page/full/