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Greece's problem is that it doesn't have a sovereign currency. The US does, so it's in no way at risk of becoming another Greece.
The U.S. debt and interest on it can indeed be an insurmountable problem if it continues. That's what happened to Greece. Greece's only problem wasn't the lack of a sovereign currency.
The U.S. debt and interest on it can indeed be an insurmountable problem if it continues. That's what happened to Greece. Greece's only problem wasn't the lack of a sovereign currency.
You are just completely utterly wrong. There's no other way to say it.
Greece's problem is that they don't make enough money. Period. Can you name one global Greek corporation? Can you name one thing you've bought that is made in or is associated with Greece... beside the gyro that you ate the other day?
Their problem is that they have a 25% unemployment and very little world presence in business. You can count on one hand the number of Conglomerates in their entire country. Greece doesn't have enough ways to make money, that's their biggest problem. The debt is just a byproduct of their situation. They had to borrow because they don't make enough money and they don't make enough money to pay the debt.
Now to equate that to the USA, is just stone cold stupid. We are the most dominant business force in the entire planet. In basketball term, we'd be Lebron James + Michael Jordan while Greece is the five foot five backup point guard on a recreational team.
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The only reason the United States isn't in bigger trouble right now is that other countries keep buying our debt. How long before we are where Greece is? Do you think we will avoid it? 10 years? Longer? Socialism doesn't work. Eventually you do run out of other people's money. Greece is the textbook. Germany didn't blink like Greece thought they would. Can just kicked down the road and Greece I think hS hit a point of no return . Hopefully Portugal, Spain etc. will learn from Germany's actions. How about the United States? How far are we away from where Greece is now?
I started a similar thread and posted a piece from USA Today. We got the usual denial response from people "This won't happen here" or minimizing "If it happens, it won't be that bad".
And one person who said the USA Today piece was an example of "Southernomics" (in other words, it was written by right wing nut jobs). USA Today's editorial board is hardly right wing. If anything it's slightly to the left.
I started a similar thread and posted a piece from USA Today. We got the usual denial response from people "This won't happen here" or minimizing "If it happens, it won't be that bad".
And one person who said the USA Today piece was an example of "Southernomics" (in other words, it was written by right wing nut jobs). USA Today's editorial board is hardly right wing. If anything it's slightly to the left.
I'm sure the Greece population was in denial just like a lot of the folks on this thread are, also. I guess they don't think our debt is a problem and that the only thing that is saving us now is the low interest on servicing the debt. Just glad I don't have kids because they are gonna be totally screwed!
You are just completely utterly wrong. There's no other way to say it.
Greece's problem is that they don't make enough money. Period. Can you name one global Greek corporation? Can you name one thing you've bought that is made in or is associated with Greece... beside the gyro that you ate the other day?
Their problem is that they have a 25% unemployment and very little world presence in business. You can count on one hand the number of Conglomerates in their entire country. Greece doesn't have enough ways to make money, that's their biggest problem. The debt is just a byproduct of their situation. They had to borrow because they don't make enough money and they don't make enough money to pay the debt.
Now to equate that to the USA, is just stone cold stupid. We are the most dominant business force in the entire planet. In basketball term, we'd be Lebron James + Michael Jordan while Greece is the five foot five backup point guard on a recreational team.
.
This is one of the most absurd statements I've seen. Greece is in trouble because they got themselves in debt. Primarily because they have pensions they can't afford and a socialist economy (which never ever works) and very little taxes on the few businesses that do exist in the socialist economy because noone pays them and it's not enforced. They love to sit at the coffeeshops and collect their pensions pretending that rearranging the chairs on the Titantic is gonna make any difference. There is no answer for Greece. They are screwed. Just depends on how they end up getting screwed.
That's where the U.S. is headed if we don't get our fiscal house in order. It might take 10,20, 30 years but once other countries wise up and quit floating us, it WILL end. It's not an if, but it's a WHEN. And governments "never" reign it in. It's pretty much a "start fresh" thing at some point. Maybe you think this is doom and gloom and impossible. Look at where we've come from in terms of growing the debt, social programs, etc.
This is one of the most absurd statements I've seen. Greece is in trouble because they got themselves in debt. Primarily because they have pensions they can't afford and a socialist economy (which never ever works) and very little taxes on the few businesses that do exist in the socialist economy because noone pays them and it's not enforced. They love to sit at the coffeeshops and collect their pensions pretending that rearranging the chairs on the Titantic is gonna make any difference. There is no answer for Greece. They are screwed. Just depends on how they end up getting screwed.
That's where the U.S. is headed if we don't get our fiscal house in order. It might take 10,20, 30 years but once other countries wise up and quit floating us, it WILL end. It's not an if, but it's a WHEN. And governments "never" reign it in. It's pretty much a "start fresh" thing at some point. Maybe you think this is doom and gloom and impossible. Look at where we've come from in terms of growing the debt, social programs, etc.
Actually Greeces social spending was average for EU countries. Its in their tax collection that they completely and utterly failed. Much like how many Conservatives want the US to function......
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