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mirgro on 05 May 2010
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mrstickball said:

mirgro -

Given that the entire Greek collapse is due to PUBLIC DEBT, my thought was this was about PUBLIC DEBT.

Still then, if you want to argue private debt and other such debt, Greece is still much higher than the US. You have provided literally zero comparative data for the US versus Greece - your using figures without an analogue between the countries. Until you do, I fail to see why I should pay attention to your arguments.

*edit*

Here is Greece's gross debt. Its still twice as much as the US by GDP:

http://www.ft.com/cms/s/0/4e039b0c-521f-11df-8b09-00144feab49a.html

Greece is nearing 200% gross debt vs. its GDP. Comparatively, the US is at 90%.

I never said they should borrow more, they just had to be smart about what they do with borrowed money. Also, have any of the creditors of the US even bothered to ask it for money back? I imagine the US would be in fairly dire straits if that were to happen. Also as I pointed out, while the debt is lower of the overall GDP, it come to mid 40k per person, child or elderly. Given the fact that the average 4 person family, which owes 170k for its 4 members in total, makes 45k a year. Cople that with the fact that under the oh so venerated Capitalistic ideas that the rich shouldn't be taxed, and you can see how the shit will seriously hit the fan if people start wanting their money back.