Greek Government has its Tits in a wringer

Greece is an example of what we may see here in the U.S. soon, so all those who are contemplating retirement or already retired may get some tips from this video.

These elderly folks are not your typical radical types you normally see stirring up trouble over the run of the mill protester but the core of the country.  They are the people who have expended their working lives paying into a system not unlike our here in the US and are now being thrown under the bus.

A government, any government will sacrifice anything to insure it’s survival and that includes the citizens pensions.  The Prime minister says they were difficult decisions but necessary.  So they go to the only source or option by raising taxes and cutting pensions.  Say, that can’t happen here can it? 

Jamie Dimon, chairman of JP Morgan Chase, has warned American investors should be more worried about the risk of default of the state of California than of Greece's current debt woes.

California's state controller says they may again issue IOUs as they run out of money yet again. 

Pay attention to the local governments as this economic mess continues to gather steam.  Illusions painted by government numbers may put the crowds at ease for a time but the REAL state of the economy will manifest itself at the local level as cities and states feel the pinch from the unemployment.