Thursday, April 22, 2010
The Greeks Vastly Underreported Their Debt. . . .
RUSH: Guess what they've just done in Greece? They have just realized -- get this, now. They have just realized they underestimated the size of their debt by a whole whopping 2% of GDP, which is significant. It's even worse than they originally thought. Let me amend that: It's even worse than they originally said. They've known it all along, and now there are strikes. Everybody that's on a freeloader status over there -- teachers, doesn't matter -- are striking, promising all kinds of civil unrest. They've had decades of a welfare state, and now all of it's going to be taken away under austerity plans. You look over there and you might see a little microcosm of our future.