[BITList] did you know?

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ct
But America has one significant advantage over Greece they print the 
money they owe
frank
On 2/19/2010 10:20 PM, CT's wrote:
> *America: A Big, Fat Greek Tragedy*
>
> Greece is the insolvent, bankrupt country that threatens to bring down 
> the entire EU (European Union) with its exploding and toxic national 
> debt. But it's just one of the PIGS ­ Portugal, Italy, Greece and 
> Spain. The EU is damned if they do, damned if they don't. If they 
> choose to bail out Greece in order to save the union, soon they'll 
> have much bigger bankrupt nations to deal with (Portugal and Spain are 
> next in a long Conga line). There isn't enough money in all the world 
> to bail out all of them. The EU is in big trouble.
>
> But the real problem is that Greece isn't the worst Greek tragedy on 
> the horizon. Greece is only "the canary in the coal mine." The United 
> States is one big fat Greek tragedy. We are Greece- SQUARED. All the 
> same problems that plague Greece, plague this country ­ huge national 
> deficits and debt; high unemployment; gigantic entitlement programs; 
> too many government employees; not enough tax revenues coming in; 
> endless bailouts and stimulus; and pension and healthcare systems 
> (Social Security, Medicare, Medicaid) that threaten to eat every 
> dollar of the budget. Just the interest on our national debt is enough 
> to destroy our economy. It's all a Greek tragedy.
> ct
>
>
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