For those that do not know what PIIGS stands for; it is the acronym for Portugal, Ireland, Italy, Greece, and Spain whose economies are on fire and linked to each other. The contagion is spreading and we must start thinking about who we are as Americans, how we are going to react, and what we are going to do when it all hits the fan. That trillion dollars in bad assets that the banks have not put on their balance sheets is hanging over our heads like a very sharp sword.
Everyone (by now) knows about the protests in Greece, but a protest turned violent in Ireland on Tuesday, and another protest is scheduled for Saturday. Protests are happening in cities all over Romania due to the austerity measures being put in place by their president.
Protest at Leinster House, 11th May 2010 – Next Protest Anglo Irish HQ – 2pm, Sat May 15th, 2010: