The Debt Crisis Will Change The Way We Live -- Hamish McRae, The Independent
This is not just about the indebtedness of Greece; nor that of the other weak eurozone countries; nor about the future of the euro; nor, as we will learn today, that the liabilities of the British Government are far higher than the official figures suggest; nor even the real possibility that the US itself may default in the next three weeks if Congress cannot agree to an increase in its borrowing limit.
We are seeing all of this of course. But we are also catching a glimpse of something even bigger. This is the way in which the entire role of governments in Western democracies is starting to shift – has to shift – as they look across the chasm between what they are expected to do for their electorates and the resources they have available to do it. We are beginning to see how government 50 years from now will be quite different from anything in our lifetime.
Read more ....
Update: US debt crisis and eurozone troubles could overshadow phone hacking -- Michael White, The Guardian
My Comment: When a left-wing newspaper like "The Independent" ponders on the demise of the socialist state .... you know that the times are changing.
No comments:
Post a Comment