Greece and Spain erupt into further flames:

Greece and Spain see more violence because of their lackluster economies.

Greece indicates that further cuts are looming.

From the UK Independent:

Day of rage in Greece as more stringent cuts loom

With wages, pensions and healthcare under threat, protesters flood the streets of Athens

Hospital doctors, pensioners, teachers and shopkeepers were among the demonstrators that participated in over 60 rallies throughout the debt-ridden country. Even the president of Greece’s police officers participated in the trade union march in Athens alongside uniformed colleagues from the fire department and coastguard.

“We don’t owe [money] to anyone, bring back what’s stolen,” was one of the chants that could be heard in Athens, echoing the violent resentment of many Greeks against politicians and their purported embroilment in tax evasion and corruption scandals.

ECONOMY FEARS SEND SPAIN’S RATES SOARING

Concern about the Spanish economy drove a sharp rise in the interest rates that investors charge to lend money to Madrid yesterday, increasing fears that eurozone crisis was worsening

The yield on the country’s 10-year bonds topped 6 per cent for the first time since early this month, reviving speculation that Madrid would have to seek a national bailout from its European partners.

The high rates come in a crucial week for the Spanish economy, with the government due to unveil its draft budget for 2013 today, and an audit of Spain’s banks expected to reveal how much money will be needed to prop up the country’s ailing lenders on Friday.

These riots can not just happen — but will happen in these United States.  And soon.

And: why Putin wants Mr Obama to win his second term.

BZ