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"Greekisation "= Deterioration of the USA economy,especially concerning deficit/debt,
so that it approaches bankruptcy...
CA is close to GR...CA suffers from creeping "greekisation"...
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Quote:
Originally Posted by miamiworshipper
"Greekisation "= Deterioration of the USA economy,especially concerning deficit/debt,
so that it approaches bankruptcy...
CA is close to GR...CA suffers from creeping "greekisation"...
Aha .. Got it.
The same thing that is now happening in Greece, is apparently also happening *at home* ...
The US has several advantages over Greece,
First and most importantly is the US has a high productivity rate and a strong work ethic ......Greece has neither.
Second, Americans have an entrprenurial spirit and creative mentality which has resulted in a high rate of innovation.
That said, the US situation is only about 2 years behind the Greeks in terms of their governmental debt levels as their combined fed/state/municiple debt levels are already 120% of GDP, the same as present day Italy. The US has the benefit of US dollar being the world's reserve currency but that has the negative effect of when the US gets in trouble it simply prints money. The only reason interest rates are low in the US and the dollar relatively strong is due to the weakness of the EU and Euro, it has nothing to do with the underlying strength of the US economy.
Americans and the Greeks have one thing in common which will result in the collapse of both economies is their refusal to ackmowledge the problem. Greeks think they can get away with paying no taxes but have extravgant social/health/education programs while Americans refuse to pay the taxes needed to support their massive military.
In short, both countries have a populas that refuses to pay for the services they demand resulting in runaway deficits and accumulated debt.
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