Thursday, May 17, 2012

We Are Watching The Greek Banking System Die Right In Front Of Our Eyes

People in Greece are withdrawing their money from the banks, as Greece talks of dropping out of the European Union. As people in the US are bored with news like this, our own financial crisis is coming.

Bruce

"So where has all of the cash for these withdrawals been coming from? Well, the European Central Bank has been providing liquidity for Greek banks, but on Tuesday it was reported that the ECB is going to stop providing liquidity to some Greek banks.
...
Meanwhile, the United States continues to steamroll down the same road that Greece has gone. According to the Republican Senate Budget Committee, the U.S. government is currently spending more money per person than Greece, Portugal, Italy or Spain does.

We are spending ourselves into oblivion, and we are heading for a national financial disaster.

Unfortunately, most Americans are totally oblivious to all of this."

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