Greek Fire,then and now............from Rico

"Greek Fire" was once hell-on-eart on ancient battlefields. Today, Greek Economic Fire threatens and presages hell-on-earth for all over-indebted economies.

Watch Greece.

The five stages to the Banana Republic of America can be seen there.
1. Continue to borrow to keep the party going. Politicians pretend they're serious about curing spending and debt...but only to kick the can further down the road...just past their tenure and/or next re-election.
2. INFLATION. Difficulst to feed your family and gas-up the car?
3. Austerity. Promises made will not be kept. Cannot be kept. Services and benefits/entitlements cut back.
4. Economic cannibalism. The Gov't sells-off assets and steals the wealth of its citizens (confiscatory taxes, pensions forced into worthless Gov't bonds). Selling bridges, roads, historic landmarks to 'buy' time from creditors.
5. DEFAULT. Debt cannot be paid back. Game over. Whether RESET or AMF, at some point martial law is imposed.

The 'next' wave of financial crisis won't involve Banks going belly-up, but entire Countries.
Q: What happens when systemic insolvency and public outrage meet?
A: Look at Greece for a clue. *

*The five splayed fingers shown at Greek protests is the equivalent of the American middle-finger gesture or the British archer's finger salute...neither to be confused with the hippie 'peace' sign.