Posted 1 year ago on May 13, 2012, 9:05 a.m. EST by ItNeverBegan
This content is user submitted and not an official statement
Countries like Greece, Italy, Spain, Portugal and beyond are finally hitting the borrowed money wall. It's fun while it lasts, but eventually bartenders cut you off and send you home to sober up. So too does the market. When you borrow yourself silly to the point where paying your debts starts to come into question, guess what, the people you're borrowing from smarten up and start to pull back from lending more. Go figure, I know.
To Europe's child-like unions and leftists, this is upsetting. They want the borrowed money bubble machine turned back on. It's more fun when government gets to spend money it doesn't raise taxes to cover. It should flow forever. So, they protest and make it worse. But it changes nothing. They can't make people lend. They can't.