This paragraph is telling. From WSJ: Default and Dissent Threaten Greece.
The giant public-sector slimming—as many as 120,000 public workers could be eliminated—that Greece is contemplating threatens to upend decades of cozy ties between the ruling Socialist party and those workers, who have long formed a key constituency.
That timeless lesson: Even the most loyal defenders of socialism get it in the end.
Just ask Sergey Kirov.
The unions, and weak government decision-makers, have led to this in Greece. They are on track to duplicating these problems here.
It will be interesting to watch what happens to the price of gold this week.