[quote=Arraya]
It seems like it’s almost time to go into detox. What that will look like is a good question.[/quote]
Arraya: I think we all know what that will look like, which is why the American and EU governments have been avoiding it like the plague.
There isn’t a politician out there that wants to bell that particular cat, because, when they do, all hell is going to break loose.
We’re already seeing the reaction of the frugal and careful Germans to Greek excesses; just wait until Spain, Portugal and Italy come unglued. There is a massive unfunded pension overhang in most of the major Eurozone countries, births are below replacement rate and government debt/spending are completely out of whack.
That Minyanville/Das article did a good job of not encapsulating the entire Greek and EU problem, but drew excellent parallels to the very same problems here in the US. Problems we’re doing our level best to “spend” away. As much whip as Uncle Sam might have, at some point its going to overwhelm us, too.
