Read What I See

We should be glad to see that people are beginning to show some backbone and are out on the streets.  Having said this, we must recognize that their problem is not local but a national problem that will soon spread throughout the entire nation. The teachers gripe is not on the long run winnable.   Wisconsin's government cannot give its employees what it doesn't have and their present problem is not the ailment but only a symptom to a much bigger problem.  State and local governments are finally reaching the end of their capacity to borrow and new spending, they will have to contract spearing no one on its payroll.

The federal government is right behind it and although the Federal Reserve is now financing one trillion of the Treasury's yearly need, it cannot do it indefinitely and soon will become a major crisis that will dwarf  what is now taking place in Wisconsin.  We had QE1, are quickly depleting QE2 which should last at most until June, there will be QE3 which will shake the dollar and those who are vested in it and we likely will reach the end of this game with QE4.  At this point much of the nation will be where the Wisconsin teachers are today and many or our elected officials will likely go into hiding as they have done in that state to avoid facing the rage that will ensue.