14 Depressing lessons for America from the slow collapse of Greece
Other nations are hesitant to provide assistance to a nation nearing economic collapse , and for most, it won’t even be possible. In the case of America, how many nations will be able to bail us out? China’s economy is in more trouble than most people realize and most every other developed nation has similar struggles.
- Public services will become unreliable as a government and economy collapse. Services we now take for granted, such as police, firefighters, and sanitation, will be poorly staffed and many will simply shut down leaving citizens to do their best on their own.
- Government agencies will be forced to drastically reduce their budgets, leaving millions of Americans without services. It will be more difficult to do just about anything related to the government except paying taxes.
- Confusing laws and red tape will increase as lawmakers at every level attempt to extract more taxes from their constituents in order to stay afloat.
- New “creative” tax laws may be retroactive, will be overly burdensome, and include extreme penalties for non-payment.
- Public sector retirees will realize their pensions aren’t nearly as safe as they had anticipated and public employees will experience missed paychecks and reduced hours.
- Healthcare benefits will all but cease to exist and the quality of healthcare will be threatened. Medical treatment and medications will become prohibitively expensive.
- Overall, the level of physical health will decline. More people will forego important medical care and ignore warning signs of serious health issues. This will cause more people to have weakened immune systems, allowing the spread of disease and opening the door to deadly epidemics. Ultimately, the lifespan of Americans will significantly decline.
- Businesses will continue to close, unemployment will rise, and families will have less and less income to cover their most basic expenses, much less any luxuries to make their lives more comfortable.
- Banks will experience runs by depositors desperate to conserve whatever cash they have. This will limit the ability of banks to loan money to businesses, thus impacting an already hard-hit economy.
- The middle-class, formerly used to a comfortable lifestyle, will be devastated, with millions finding themselves homeless and hungry and without any hope for the future. Dumpster diving will become a way of life for many. As families use up their savings and retirement funds, government assistance will be limited or no longer available.
- A collapse will take a deadly toll on the emotional and mental health of individuals, causing a rise in divorce, addictions, abuse, and suicide.
- Family ties will become severely strained as parents are unable to help their children and desperate families are unable to take in destitute relatives.
- Civil unrest will increase as desperate, angry people turn their wrath upon the individuals and entities they blame for the crisis.
I read recently that, “It’s always the case that the world changes before the human mind grasps the change that is upon it.” The Greek people and their politicians are struggling to come to terms with the results of decades of irresponsible spending. One Greek described it as, “living a lie,” much like an estranged married couple pretending to be happily married when in public. America’s politicians are making similar mistakes to those that have brought Greece to the brink. Hang on, we’re in for a wild ride, and if we’re smart, we’ll learn lessons from the decline of Greece.
“Greece in Chaos” by Noelle Burgi
“Ten Years to Greece” by John Stossel
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