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Oakley wrote:This applies to Europe and to the US.
The only sane solution is being offered by Ron Paul, at least for the US, but the war mongering wing of the Republican Party is doing what they can to see he does not get the nomination, and the socialist left in the country is likewise unwilling to face a rational workout of this disaster, instead insisting on holding on to the pittance that the government passes out to them in return for voting the status quo.
Outcast_Searcher wrote:I don't know how it will be resolved. I just am SURE that neither a traditional (or anything close) left or right wing answer comes close to dealing with the core problems. I suspect it will take a long time before things get bad enough to prompt real change.
The "may you live in interresting times" curse is reaching a frightening "in your face" reality these days, IMO.
Daniel_Plainview wrote:The current European model depends upon quarterly GDP growth to sustain the huge govt debts. This model is doomed, and will collapse. Only a small handful of productive European countries will avoid default (Germany, France, and some Scandinavian countries).
Since any "new system" will also depend upon quarterly GDP growth, it will also be doomed to failure.
cephalotus wrote:As far as I know the US dept rate on the other side is in the same range but skyrocketing and politically your country seems so deeply devided that it looks almost unable to act. Beeing a hostage to the ultraright teaparty doesn't help much.
Some of us like inaction at the federal governmental level. Less chance for mischief.
In a scary and painfully frank interview a freaked out BBC interviewer is visibly shaken when market trader Alessio Rastani predicts that the "Market is Toast." Apparently there is nothing Euro governments can do.
evilgenius wrote:Thread bump!
This is as good a place as any to openly wonder if one, the banking system in Europe can take much more of this, and two, the banking system worldwide isn't exposed in ways people haven't been talking about much?
cephalotus wrote:And only the state is in dept, the private households have (as avarage of course) lots of money and very little dept.
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