Tuesday, January 20, 2009

European Rioting

There have been violent protests in several European countries over the past few days as the economic crisis worsens. Here are some links:

Iceland: Used The Clubs (video)
Lithuania: Protesters clash with riot police (video)
Bulgaria: Anti-government protest turns into riot (video)
Latvia: Officials trade blame for Latvia's riot (video)

Eastern Europe risks further riots as economic crisis bites
Stratfor analysis (mp3 download): Protesting for Change in Europe

It can never happen here, right?


patient renter said...

Exactly! Especially the Iceland scenario. Oh wait, isn't their unemployment rate actually much lower than ours?

Max said...

Yeah, Iceland is the canary. Spain and Italy will be interesting too until the ECB capitulates and inflates. Then the Germans will learn what it means to have a unaccountable central bank deciding what their labor is worth.

The US situation is positively peachy by comparison.

Deflationary Jane said...

I've been saying this isn't over until a city burns but I was thinking along the lines of a RKR type event. I may have grossly underestimated.

I remember watching the police turn people back when they triedto cross under the 10 to loot in west LA. The freeway was a natural defensible border. Our 'good' neighborhoods have nothing like that.

Max said...

Some of my contacts in social services are fearing the impending welfare cuts. As my 60s Berkeley aunt said, "It's going to be a hot summer."

Deflationary Jane said...

Agreed Max. I lived in LA during RKR. You never know what will be the one thing to touch the fire off.

Anonymous said...

Interesting. Just got off the phone with my LA RE broker friend former gun dealer. Remember when he said the RKR were like a year's business in one month.

New business plan...


BTW, Rasmussen sayn' sales in 2008 around 41000 homes, your inventory around 3.5 months. Thinking that 7700 home sales increase impacted the inventory trend chart.