JWR:
Here are two links to recent news articles: Anti-austerity protests sweep across Europe [1], and Demonstrators protest spending cuts across Europe [2].
How long until something similar begins to impact the U.S. may be as simple as this. The “hidden from public” depression, camouflaged by government “Robin Hood” programs like Food stamps, EBT cards, extended unemployment, various grants and subsidies, will become increasingly evident when, not if, the Fed slows down and/or stops payments that keep the masses satiated. It certainly can happen if austerity budgets rear their ugly heads and the wheels begin to come off our society. Or hyperinflation starts to kick in and the basics get priced out of the range of Fed “social” program distributions.
Unfortunately, these articles may be a foreshadowing of where we’re headed in the not too distant future. Currently just protests. How long before people become desperate and violent? Not good.
Best Regards, – S.B.
JWR Replies: As my friend N.I.M. is fond of saying: “Coming soon, to a city near you!” The Culture of Entitlement is firmly entrenched on both sides of the Atlantic. Once those who are sucking on the public teat sense that the sow is drying off, they will make quite a fuss. In effect they are asking: “Where is all that money that you used to pay me for not working?” There are none more vocal than welfare recipients without their bread and circuses. Of course a layabouts strike wouldn’t be effectual (since they don’t work), but they certainly can stop car traffic and shatter store windows.