The crisis we really face is the civil unrest that will erupt when society discovers that the Emperor has no clothes. When people have been promised the moon and believed it, no amount of economic logic will turn their heads to reason. Southern Europe is bubbling with problems. This is a battle between the bond holders who gave government their money with the promise of “trust us” and the people who were told “vote for us” and you will get everything. The two promises are headed into a vortex of political instability. In Spain miners attack police with home made rockets.
This is why governments are spying on everyone. They are afraid of civil unrest – the day of reckoning for so many false promises. God Help Us!