There has been a lot of misplaced euphoria around jumps in the stock market and big Black Friday sales. The EU is in deep economic trouble. People need to keep something in mind. Where does all of the bail out money come from? It comes from the 99%. In order for EU nations to reduce their debt, they will be forced to cut government spending-things like pensions, health care, education...Jobs will be lost. Then, The EU nations will have to raise money, taxes, to pay off debts. Will they tax the wealthy? Well, if the U.S. is any measure, the answer is no. Millions will suffer so that 'investors' will get their money-YOUR MONEY. Do you really think this is sustainable?
Then, we have 'economists' touting the huge outlays for holiday spending. But, we also have reports that tell us, yes, some gizmos and gadgets were bought, but, most people bought necessities at bargain prices. This is not a sign of recovery. Further, more consumer debt is racked up to pay for these expenses. This is debt the 99% cannot afford.
The underpinnings of the global economic system are collapsing, being washed away like sand by an economic philosophy of greed. But, keep piling blocks high enough and eventually it gets top heavy and collapses. If you are looking for signs of trouble as we head into 2012, the economy is one sure sign that spells trouble-big time!
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