La Dolce Vita days coming to and end in europe.

I heard on radio today that  the  extravagant Italian govt is introducing an austerity programme.So first its greece, then spain, now italy.Mark my words its not too long until all europe has austerity programmes.Just as the spending was orchestrated by all govt at the same time so to will the austerity progs be orchestrated.As  it is all govt bent to go to extremes{too much or too little} the austerity will go overboard.Too much austerity.Get set for a financially tighter world and higher taxes.Much lower consumption.Maybe population growth will mask the gross numbers but individuals will consume much less.
   Get into cash and keep some under your bed.Be happy you enjoyed the excess for a while