Romania's government collapses after protests

[Joseph]

http://news.yahoo.com/romanias-gover...151141275.html

[Goldhedge]

Romania's government has collapsed following weeks of protests against austerity measures, the latest debt-stricken government in Europe to fall in the face of raising public anger over biting cuts.

This is what's missing from the OWS movement. No financial incentive for J6P to be out in the streets...yet....

[Scorpio]

In 2010, Boc's government increased the sales tax from 19 percent to 24 percent and cut public workers' salaries by a quarter to reduce the budget deficit.

There is a lot of resentment. The austerity measures seem to have penalized those who worked for the state, retirees and people who depended on social security."

These 2 encapsulate it,

the bankers telling them to cut across the board and raise taxes, so they did,

we are starting to see this pop up again and again,

outsized govts, outsized pension plans, outsized promises all paid for with nothing, paid for with fiat,

here comes the fiat masters and their onerous demands,

yep, this isn't going to end well anywhere,


when the reality is, the free fiat should not have been available to start with so they could make these grandiose promises

S

[Irons]

Coming soon to a US state, county, city and township near you!!~


I realize its not funny but my "give a flock" override is kicking in.

[TomD]

What is happening is the initial cracking of a century-old Western experiment on the concept of all-powerful Government as the guarantor of economic well being. The total collapse of the edifice won't be a pleasant thing to experience but, 100 years from now, it should make for some interesting history.

[azxcvbnm321]

Fiat isn't the main problem. The main problem is that you have all these people wanting benefits and stuff and not enough people actually producing benefits and stuff. Part of it is that we have the Baby Boomers entering retirement and demanding the same lifestyle they had when they were working and producing. You can look at this from another point of view that doesn't include fiat at all. If you have all these people who take more than they produce and this section of society gradually grows and demands more, eventually you're going to hit a point where there is simply not enough being produced to satisfy the demand. And the more you take from those who actually produce, the less incentive they have to produce and the more they will want to join the ranks of those who take.

This is what's happening in Europe. Too many demanders, not enough producers. It doesn't matter how much they riot or who they elect, there just isn't enough stuff being produced. That's the endgame.

[Eat Beef]

Fiat isn't the main problem. The main problem is that you have all these people wanting benefits and stuff and not enough people actually producing benefits and stuff. Part of it is that we have the Baby Boomers entering retirement and demanding the same lifestyle they had when they were working and producing. You can look at this from another point of view that doesn't include fiat at all. If you have all these people who take more than they produce and this section of society gradually grows and demands more, eventually you're going to hit a point where there is simply not enough being produced to satisfy the demand. And the more you take from those who actually produce, the less incentive they have to produce and the more they will want to join the ranks of those who take.

This is what's happening in Europe. Too many demanders, not enough producers. It doesn't matter how much they riot or who they elect, there just isn't enough stuff being produced. That's the endgame.

The important point you're missing is that withoiut fiat, the politicos can't make the promises to feed the giant mass of crying babies, at least not at the level we're experiencing. If you can't pull money out of thin air, this problem would have come to a head a long time ago, and with considerably less pain.