sc94597 on 01 July 2015
| bonzobanana said: You look at some of the creditors for Greece and you see many of them have their own huge debts. The net contributor to many economies seems to be China so what happens when ultimately we can't pay back China. There not known for their fair play or honest behaviour. They are not a democracy. So much debt going around the world but in the detail there are only a few countries without any real level of debt themselves. Everyone wants to live a fantastic life with great health care, decent policing, benefits for all even if the country itself can not earn the level of money to pay for it. Surely better to live within your means and prioritise what is important. I.e. don't tax food, healthcare, education, service sector etc but do tax heavily luxury items and non essentials. People should understand that a well run successful economy is the only way their lives can be improved not through debt. |
Great post. the only way out of destitution is through productive activity not borrowing from others whom you don't plan to pay back. This is obvious for individuals, but apparently not governments.
