IMF advisor Robert Shapiro warns of a meltdown worse than 2008.
So what’s a country to do when faced with sovereign default?
Well in the birthplace of democracy, as the Greek government circles ever-increasingly down the toilet of fiscal insolvency, it apparently has found enough money to purchase 400 M1A1 Abrams tanks from the United States.
Well, I guess if they can’t afford to provide the Greek people with good governance, I guess they will NEED 400 tanks to keep the Greek people in line.
To the west, Spain tops that by offering Uncle Sam a navy base.
Under the agreement, four U.S. Aegis ships will be based at the Rota naval base near Cadiz in Spain. The agreement is part of U.S. President Barack Obama's phased adaptive approach to missile defense, under which ship-based, anti-ballistic missiles are being deployed in the eastern Mediterranean followed by ground-based systems in Romania and Poland.
The agreement "reflects a commitment of both countries to the alliance" and marks "an important step forward to protect NATO territories against missile threats," Rasmussen said. "It is smart defense at its best," he said, describing it as "countries working together and sharing together to provide something that benefits us all."
Come to think of it, considering that 169,000 Americans lost their job in September, Uncle Sam might need some more tanks and missile boats too.