Tick, tock... "it could never happen here?"
But as Jared "The 10th Man" Dillian writes on MauldinEconomics, a financial crisis of similar magnitude will happen in the US someday... it's just a matter of when...
I was watching the 6 o’clock news and saw images of closed banks in Greece and people lined up at ATMs. I’m sure you did, too.
This must seem surreal to most people because it seems so remote. But put yourself in these people’s shoes for a second. You have money in the bank. Suddenly you can’t get to it. After standing in long lines, you can only get 60 euros at a time, which isn’t going to last you very long.
What if you didn’t plan adequately and haven’t stashed away any cash? The banks will be closed for a while. What happens?
How do you pay for rent? Or food?
How does your employer pay you?
Do you go homeless? Or hungry?
Do you get really angry, take to the streets, blame someone or something (probably the wrong thing), break stuff, set things on fire?
Will Greece descend into anarchy?
It might.
No comments:
Post a Comment