DEBT CRISIS of "rich" COUNTRIES

[Benton D Struckcheon]

My bet is somewhere between 5 to 10 years. After that, well, quite honestly it doesn't bear thinking about. Unlike some folks (I get this impression, anyway) I'm most definitely not looking forward to it. I'm just hoping it doesn't turn out like 1914 - 1945, which was probably the most disastrous period in modern human history.

 

[bhavin]

My bet is somewhere between 5 to 10 years. After that, well, quite honestly it doesn't bear thinking about. Unlike some folks (I get this impression, anyway) I'm most definitely not looking forward to it. I'm just hoping it doesn't turn out like 1914 - 1945, which was probably the most disastrous period in modern human history.

Yes, it is frightening.............

 

[Atilla]

There is much talk at present on how to deal with the mountains of debt a number of countries have.

I think this is an excellent area of academic research for any aspiring student of economics.


With respect to the UK I am quite stunned by the stupidity of our politicians and capitalist system in dealing with the challenges.

Why is everyone talking about cutting back on services and raising capital gains tax? These are both daft approaches to take.


Tories said they like to simplify.


What is wrong with VAT and PAYE for goodness sake? Easy to set - apply and collect. Applied equally to all citizens above a certain minimum allowance.



Heellllooooooo - any intelligent life form in the cabinet???