Greece

Greece is "the canary in the coal mine", when it comes to what transpires when rising prices(inflation) coexist with a global "recession".  Greece is experiencing the same bad effects that America is experiencing except the Greeks have a large head start on us.  

Greece has horrible debt problems, a lethargic economy, high unemployment, a youth base that is heavily unemployed and thus has a lot of free time on its hands, and political leaders that will not take the bitter medicine necessary to tackle their debt woes. Thus, Greece has come to fit more and more the label of a banana republic, yet is popularly described as a "developed, european country".

Here is video detailing events that are happening in Keratea, a city of 15,000 close to Athens. 

Even larger and more disastrous are these clashes that took place in Athens last year(Athens the capital city of Greece)

We can only hope that our elected public officials can turn our country around from the horrible policies that resulted in these events transpiring in Greece. As of now, they have not. Our Treasury Department is expected to issue 99,000,000,000 dollars in new debt next week. 

For more in depth coverage regarding Keratea, Greece and our US debt dynamics here are two links...

http://www.zerohedge.com/article/meet-keratea-greeces-war-zone

http://www.zerohedge.com/article/treasury-hopes-auction-99-billion-bonds-next-week-can-it