Strikes In Spain Against Reforms

Masked protesters block roads during clashes with the police in Vigo, Spain, Wednesday, June 3, 2009 reports that “strikes against austerity measures caused transport havoc Tuesday in Madrid and led to clashes between police and picketers in the Basque region.”  Yes, Spain like Greece is in deep fiscal trouble.  For years the country had been loving beyond its means and now it must cut back.  That means cutting back on government programs and handouts that many depend on.

The cutbacks coming are happening in California, Illinois, New York and according to published reports, you can add another 43 states in the U.S. that will be scrounging for ways to make ends meet.  I fear that the U.S. will experience the violence, strikes and clashes with police as well.  Richard Russell, author of Dow Theory Letters,  has said for years that the only government option in this situation is “Inflate or Die!”  For many of the countries of the world, including the U.S.,  where debt is now 100% of GDP, that time is at hand.  Expect to see angry citizens push back against reforms and cutbacks or loss of buying power with currency.

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