What Greece Means

Last edited Mon Mar 12, 2012, 04:54 PM - Edit history (1)

So Greece has officially defaulted on its debt to private lenders. It was an “orderly” default, negotiated rather than simply announced, which I guess is a good thing. Still, the story is far from over. Even with this debt relief, Greece — like other European nations forced to impose austerity in a depressed economy — seems doomed to many more years of suffering.

http://www.nytimes.com/2012/03/12/opinion/krugman-what-greece-means.html?_r=1&hp

=============================================================

More austerity means homes get cheaper for the 1%...........to rent to the 99ers.....the beat goes on....