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Is America in Worse Fiscal Shape than Europe?

johnm h Wrote: Oct 27, 2012 9:35 AM
We are in worse political shape not worse fiscal shape. Since we can print our own foreign excahange we can continue fiscal irresonsibility far longer than any other country, and have. Other countries face foreign exchange constraints that force them to reform. We don't until China decides they don't want dollars. Then we get to enjoy run away inflation, and the destruction of the middle class. We can continue this as long as China enjoys seeing us destroy the source of our strength. If Obama wins this is what we will do.
Pistol Wrote: Oct 27, 2012 10:13 AM
Sounds accurate to me, johnm h. Austerity is coming because its the inevitable result of living beyond your means. It can be controlled and softened by wise government, or government can continue its do nothing course, and when the big bubble breaks, the crunch will be longer, harder and deeper.
Chris from Kalifornia Wrote: Oct 27, 2012 11:10 AM
Now there's a great idea. We'll just get the Fed to print Euros, Yen and Yuan instead of Dollars. That would fix everything. LOL

I’ve shared BIS and OECD data showing that the United States has a bigger long-run fiscal burden than Europe.

That’s a bit of a strained comparison since “Europe” includes fiscally responsible countries such as Switzerland and Estonia, but also soon-to-be failed states such as

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