But I have a question for our u.s. citizens
Wy do you all think europe is so bad the u.s. have a debt 10 times of that of europe
Hi barendverberg - this is rather OT, but a couple ideas
First, is that 10 times in paper value terms, rather than in percentage of GDP terms? As I understand it many, especially southern countries, are twice as indebted as US, or more, as normalized to scale of each conuntry's economy.
Basically, as I understand it, Europe is in such a pickle because the old-world values that one does act honestly trip Europe up.
It is said there are only the three ways to get out of debt: default and deny it, pay it off, or inflate it to a manageable size and pay it off.
The banksters running the show everywhere have lined up pretty big sticks to beat any country with if they try the first - default, declare the debt null and void.
So that leaves pay it off or inflate down the scale of the task first.
It appears Europe holds values that make it tend toward the first of these. The US clearly does not and is following the second.
Now, the issue is that most debt levels are mathematically unsupportable. Repayment in good faith means forever being drained, or if not quite so then the banksters will just nudge up the interest rate a bit to make it so.
So, when is wisdom not wisdom, or foolishness not foolish ?
