Posted by: Bruce Lefavi in investment on Feb 15, 2010
Greece is the turkey of the week.They’re going bankrupt. Their big socialist spending habits are killing them. Socialism does not work. Many socialist countries are in horrible financial states, and Obama is trying to send us down the same path.
Each year, Greece is in the hole 13% of GDP. It is going to take a really long and bad recession to get them out of the troubles they are in. Otherwise, the EU is going to have to continue feeding them bailouts each year, and I think that they will grow tired of giving them money. Greece needs to cut back the ridiculous social programs and get back to reality and the things they can actually afford.
Maybe someone should tell Obama about Greece, how spending more money on social programs that you really can’t afford can lead to bankrupting the country!