Stuart Varney Says in Greece We See "Modern Day Socialism and It's Collapsing as We Speak" - Video 5/6/10
Here is video of Stuart Varney talking about the chaos that has overtaken Greece as their economy melts down.
Varney said that what is happening in Greece is the "collapse of the European Model - it's modern day socialism and it's collapsing as we speak. By that I mean high taxes, cradle-to-grave entitlements, government dominating the economy, high prices because of VAT - Collapsing as we speak."
Varney said the same basic thing is now happening in America today at the state level. But Varney said he does not think we will see the rioting in the streets that is being seen in Greece today.
A bailout of the states is coming, according to Varney. If there is no bailout, there will have to be "huge cuts" in services, which he does not believe people will be willing to stomach.