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Eurozone Gets the Recession Blues

November 15, 2012

In the second and third quarters of 2012, the economy of the Eurozone countries fell 0.2% and 0.1%, respectively.  Accordingly, two consecutive quarters of economic contraction signals an economic recession.  Also, economic indicators suggest that both Germany and France are likely to contract in the fourth quarter, compounding the Eurozone’s problems.  Ireland, Spain, the Netherlands, [...]

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An Oracle in Athens

November 8, 2012

Yesterday, more of America’s impending entitlement state future played out on the streets of Athens as Greece’s parliament passed a new round of austerity measures: The problem when you’re in so much debt is that your freedom as a nation is seriously diminished.  Shouts of “Fight!” and “They’re drinking our blood!” echoed in the streets [...]

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George Will on the Perils of Our Entitlement Culture

October 29, 2012

Occasionally, staunch Republican establishment-types like George Will get it right.  In his latest OpEd, Will makes the case that our entitlement culture is out of control because it is essentially “mugging” our descendants to pay for the debts we compile now.  In fact, he blames both parties, particularly those Republican administrations after the Great Society [...]

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New Austerity Riots Ravage Greece and Spain

September 26, 2012

The latest round of austerity measures in Greece sparked an outburst of violence over the last 48 hours: Similar-type measures in Spain produced a similar reaction: Of course, international markets weren’t too pleased at these developments either. Why wouldn’t they be spooked?  There’s social unrest all over the world:  the Arab Spring, Libya, Syria, Iran, [...]

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Greek Troubles Beginning to Spiral

May 15, 2012

Greek troubles are reaching a tipping point.  The new government couldn’t form a governing coalition willing to deal with their financial woes as the leftists are unwilling to be forced into unpopular austerity measures.  So, a new election must be held with the populist left riding an anti-austerity wave.  Not good. But events are moving [...]

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Greek Suicide Stokes Protests

April 5, 2012

It’s not just young people going to extremes in Greece as apparently a 77-year-old man shot himself due to the government’s austerity measures.  In a completely, totally, absolutely shocking development, there were protests on the streets of Athens: Suicide is a cowardly act.  On top of everything else, this man was an anti-austerity activist whose [...]

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Greece Gets $170 Billion Bailout

February 21, 2012

The Eurozone decided today to spend around $170 billion to prevent Greece from defaulting next month.  Those who hold Greek bonds were asked to take 53.5 cents on the dollar as part of the deal.  The International Monetary Fund (IMF) is also lurking in the shadows as billions of American dollars have already gone to [...]

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Greeks Imitate the Sore Losers of Vancouver

June 28, 2011

It looks like the Greek parasites took a break from extending their hands out to riot again.  Apparently, they don’t like the strings attached to the free money they’re about to receive in the form of a bailout.  It isn’t that they’re ungrateful or anything; it’s just that they don’t think they should have to [...]

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Greece Continues to Burn

June 15, 2011

More violence in Greece as youths (or “useful idiots” one may say) flip out over the next round of austerity measures the Papandreou government needs to pass due to Greece’s critical economic situation: The welfare state is collapsing in different countries at a different pace as economic realities get in the way of sustaining a [...]

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Analyst Says U.S. In Worse Financial Shape than Greece

June 13, 2011

$100 Trillion.  That’s the amount that Pimco analyst Bill Gross said today that the U.S. is on the hook for.  This includes the debt, interest on the debt, as well as all current Medicare and Social Security obligations.  It is hardly surprising.  Since the advent of the New Deal and the change towards government as [...]

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Ireland is Breaking

November 10, 2010

Ireland’s been having to deal with a serious banking crisis which won’t go away.  However, things just got worse for Ireland:  this week Ireland’s debt hit a level that has spooked investors into predicting that Ireland will be the next euro zone nation to require a bailout. Two years of government bailouts have merely broken [...]

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Welfare State Burns in France

October 18, 2010

The major issue all Western nations must deal with in the 21st Century is addressing the gap between what our governments (the “welfare state”, “social democracy”, or “big government”) have promised their constituents and those government’s ability to make good on their promises.  No country will be immune, and America’s moment is coming. Not everyone [...]

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Axis of Right Radio, Show #6, 5/19/2010

May 19, 2010

Episode #6 of Axis of Right Radio is now available. In this episode, Mike, Ryan, and Sal discuss the British Election, the economic situation in Greece and how it foreshadows our own economic problems, the nomination of Elena Kagan to the U.S. Supreme Court, and the new Arizona Immigration law. As promised in the podcast, [...]

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The Coming Depression

May 13, 2010

Longtime readers of Axis of Right know that I’ve contended for a while that the worst of the economic crisis of 2008-2009 is ahead of us, not behind us.  The massive amount of money infused into our economic system over the last two years, the coming insolvency of entitlements such as Medicare and Social Security [...]

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Greek Workers Take Time Off Work

May 12, 2010

I’m really impressed with the Greek parasites workers today.  Not only did they show initiative for once by calling a 24-hour general strike to protest the Greek government’s plan to start living within its means.  But they also proved that anything is possible when you put your mind to something, even what many thought to [...]

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Big Fat Greek Tragedy (Now with Added Bailout!)

May 7, 2010

Greece is in a terrible mess. More union/socialist-led youth violence continues to plague a nation which passed an austerity measure yesterday.  Three people have died in violence this week.  The austerity measure would cut back benefits and spending in order to make up for their massive debt.  The EU will put up 80 million euros [...]

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“The Coming Insurrection” in Greece

March 4, 2010

Last week I posted on the violence in Greece due to the first signs of the collapsing of the Bismarckian welfare state, which has been the norm in Europe for a hundred years.  The significance of this and the rest of the PIIGS in Europe is that the trends facing Portugal, Italy, Ireland, Greece and [...]

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A New Greek Oracle

February 28, 2010

The ancient Oracle of Delphi used to be a spot where ancient Greeks would go to breathe in various toxic fumes and listen to Pythia tell them about possible futures in cryptic phrases and symbols.  Well, millennia later, the Greeks still have some prophesying to do — this time on the eventual collapse of what [...]

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The Problem with the “PIIGS”

February 15, 2010

If you haven’t heard about the acronym “PIIGS” yet, I’ll let you in on it:  PIIGS stands for Portugal, Ireland, Italy, Greece and Spain — countries in the European Union on the verge of economic collapse.  Of the five nations in trouble, Greece is the closest to collapse and the youth in the streets have [...]

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Greek Riots are a Harbinger of Things to Come

December 16, 2008

Riots have rocked Greece for over a week now — they’ve even taken over a TV station today.  On the surface, it seems like the police shooting of a 15-year-old sparked the whole thing, but the bitterness amongst the Grecian youth has been simmering for years and has finally erupted onto the streets.  The youth of Greece [...]

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