In my latest quarterly commentary, sent in early January, but posted on this blog on January 30th I stated:
Tempers are running high and the stakes are enormous – but the people are not going to stand by and be forced into a devastating unending depression, eventually they will riot in the streets.
Well…the people ARE being forced into a devastating unending depression with the latest vote to approve new austerity measures in order to get more money from their neighbors. The people are rioting in the streets, just as I predicted they would. This wasn’t a difficult prediction, it’s simply the natural progression of the situation.
Things are going to get worse in Greece and Europe before they get better and Austerity will continue pushing Greece into a deeper and deeper depression.
Scott Dauenhauer, CFP, MSFP, AIF