Wednesday, January 18, 2012

Greece Is Now Beginning To Look Like A Failed State



Greece Looks More And More Like A Collapsed Society -- Business Insider

I spoke with someone from Athens today. It's not a pretty picture.

Issues related to subsistence have replaced the fervor for demonstrations. This may not last according to this resident.

The closing of stores and shops is escalating. Apparently, 20% of all retail establishments are shuttered. Nearly every block has one reminder of the ongoing depression in the economy.

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My Comment: I have close friends in Canada who are Greek and who are saying the same thing. Greece is becoming the poster child of what happens when governments lose control of their finances and feel freely to pile up debts .... the end result is never pretty.

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