BakshisMouse
Rookie
- Jun 28, 2011
- 702
- 70
- 0
- Thread starter
- Banned
- #61
A large public debt is not as destructive as you think. Look at Japan. Its public debt is around 200% of GDP. For comparison, the USA's ratio is about 100%. Now, Japan is a very troubled country economically, but no one is predicting it will fall to anarchy if the debt isn't brought down.None of this changes the fact we have a spending, not a revenue problem. Just saying.
And the problem is not enough spending. Just saying.
Yes, we understand that's what you're saying. Despite all evidence to the contrary. Despite history demonstrating how overspending has collapsed society after society. Despite seeing what's going in big spending countries in Europe right now. Despite all logic and reason, you think we should spend more. We got it.
How about this? Spend your own fucking money as you see fit and leave ours alone.
Also, the yield on a 10-year Japanese bond is around 1%. The yield on 10-year bond from the USA is around 1.9%. Would bond traders accept such a low yield if the countries were in such dire circumstances?
The yield on a 10-year Italian bond is 7%. Could it be that the problems of the European countries are cause by the Euro currency that ties them to monetary policy set by the European central bank?
I think it's more accurate to see the USA going down the path of Japan rather than Greece.