by DaleFromCalgary » Sat 17 Jan 2009, 11:39:41
"our debt is almost 100% of our GDP. "
Many nations have exceeded 100%, such as Canada and the USA during wartime and survived. GDP is not a valid indicator, because of the way it is calculated.
"the two biggest banks FORTIS and DEXIA are technically broke.
Fortis is now almost part of PNB PARIBAS. and DEXIA gets life support from the french luxembourg and belgian goverments"
No different from the USA. Individual banks go broke but the rest of the country will survive.
"Wallonia and Brussels have a really bad economy the unemployment rate is 19% and in some parts like Charleroi it's even 25%. Flanders is the only part wich has an okay economy only 8.7% unemployment. But Flanders has to support the other half of our country and i doubt that they kan keep that up. "
Sounds like Canada. Alberta had $50 billion looted from it in the early 1980s by Pierre Trudeau's National Energy Program to support Ontario and Quebec where the votes were.
"The difference between the Dutch speaking north and French speaking south is huge. They never agree with anything, that's why our goverment has to resign every 3 or 4 months lol. "
A familiar story in Canada. Quebec is a spoiled brat that always wants everything their way.
"Our major exports are cars and Chrysler, Ford, GM, are all shutting down for 4 weeks, and they probably will close for a longer time if the economy gets worse."
Ontario's economy is in the toilet for this very same reason.
"All the babyboomers in our country are retiring."
Same for Canada, although our pension plan is fully funded.