Bubble in austerity shows Europe is ignoring 1997

• • May 24, 2012 10:53pm
  • #1
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  • ForExtraPips

    3,170 posts

  • That's like the old saying goes, "If you don't learn from history, you're bound to repeat it." That's like the old saying goes, "If you don't learn from history, you're bound to repeat it."
• • May 25, 2012 12:46am
  • #2
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  • ttolman

    46 posts

  • Banking never learns from history because its founders and operators benefit from the boom/bust cycles...by the time the bust is evident by the general public, the rotating doors are already swinging from the exit of the politicians and their banking partners in crime. Sad but true. All countries are drunk with the sweet taste of credit. And government credit is simply the future labor of our children. Shame on us for allowing this dark cabal to blind our common sense and moral compass. Banking never learns from history because its founders and operators benefit from the boom/bust cycles...by the time the bust is evident by the general public, the rotating doors are already swinging from the exit of the politicians and their banking partners in crime. Sad but true. All countries are drunk with the sweet taste of credit. And government credit is simply the future labor of our children. Shame on us for allowing this dark cabal to blind our common sense and moral compass.
• • May 25, 2012 1:29am
  • #3
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  • billv

    712 posts

  • Debt only becomes a problem when our lenders increase our interest rates or our income is reduced.
    
    Many EZ countries have too much debt and measures should be taken to reduce it but there is no reason why they should be paying high interest rates. The more interest they pay the less money they have left to pay for essential services and to keep their economies growing.
    
    Look at Japan for example, they have a lot more debt and yet they are not suffering. Europe has been going down the wrong path..... Debt only becomes a problem when our lenders increase our interest rates or our income is reduced. Many EZ countries have too much debt and measures should be taken to reduce it but there is no reason why they should be paying high interest rates. The more interest they pay the less money they have left to pay for essential services and to keep their economies growing. Look at Japan for example, they have a lot more debt and yet they are not suffering. Europe has been going down the wrong path.....
• • May 25, 2012 11:18pm
  • #4
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  • ttolman

    46 posts

  • Quoting billv

    Debt only becomes a problem when our lenders increase our interest rates or our income is reduced.
    
    Many EZ countries have too much debt and measures should be taken to reduce it but there is no reason why they should be paying high interest rates. The more interest they pay the less money they have left to pay for essential services and to keep their economies growing.
    
    Look at Japan for example, they have a lot more debt and yet they are not suffering. Europe has been going down the wrong path.....

    And that's the trap! Income never keeps increasing. There's always an eventual wall that's hit because of the misallocation of resources. There is NO justification for any government or individual to carry long term debt indefinately. It goes against natural law. And that's the trap! Income never keeps increasing. There's always an eventual wall that's hit because of the misallocation of resources. There is NO justification for any government or individual to carry long term debt indefinately. It goes against natural law.
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