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With all of its extremely stifling regulations and beloved bureaucracy and red tape the socially progressive EU Garden of Eden is failing.
Why?
Oh, I know.
Its the "rich" and the "capitalists" and the "1%", right?
But I thought that the heavy-handed rules were supposed to destroy the bankers.
What is your new solution?
Would a new heavy dose of regulations and bureaucracy and red tape do the trick in bringing in a new progressive Renaissance in the Old World?
We are on the death bed and for the same reason. Banks loan money into existence against fixed non productive assets. That will destroy every government in existence.
Germany, which isn't a country of suckers, is doing better than us.
I have read your extensive posts on this subject. They present a very simplistic argument that is just flat wrong. You might improve your understanding of the role of excessive government debt in economic crises with this:
Bottom line, the level of the national debt IS the problem. Yes, national debt serves many purposes--but too much of it can ruin a country's finances, period.
it isn't a problem because our military around the world, forces other nations to accept our dollar as payment for their goods and services. we have also rammed loads of dollar denominated debt down the throats of the 3rd world. (read: confessions of an economic hitman)
imagine if every country could just print its way to prosperity
We are on the death bed and for the same reason. Banks loan money into existence against fixed non productive assets. That will destroy every government in existence.
Germany, which isn't a country of suckers, is doing better than us.
Germany is not doing better than us because Germany is responsible for bailing out Greece, Portugal, Spain, Italy and Belgium.
The USA has no such responsibilities.
The Germans, who are usually smart and prudent, dumped their strong currency for a new one that forces them to loan money to indolent Greeks like a enabling mother lending money to her drug addicted adult son.
Idiotic move on their part.
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