nairbe wrote on Nov 4
th, 2011 at 8:21pm:
Soren wrote on Nov 4
th, 2011 at 12:12pm:
Mother, Switzerland and SIngapore and Norway and AUstralia each disprove your mindless, sweeping nonsense about global greed. Countries that earn more than they spend are doing well. Countries that spend more than they earn are not doing well.
This would be the same under any economic system. ANd you know - this is truly astonishing but true - it even works with individuals!! How about that??
Aren't you glad you came by here today? You have learnt something new in your dotage. You can even teach it to your kids as you slice that cake.
Almost as easy as playing the flute: blow in one end, move your fingers up and down the holes - and that's it!!!
On the whole all well and true, particularly for a very lazy Europe on the whole. Only one problem i see, the US has well over spent for many years and that money has been on military. Now my opinion is no secret, i think they are bullies. But i am able to also recognise that even though they stuff up regularly if it were not for the military dominance they have held since WW2 the west would not have prospered as it has. So the question is should we all contribute to the maintenance of this control to maintain our economic system and dominance?
Shale gas will propel the US back to the economic power house it once was, true there are some structural problems, a mountain of debt and outrageous government expenditure, but once confidence is restored and their housing market finds a bottom, people will start spending and their economy will soar.
The OPEC nations are very rapidly developing renewable energy sectors and are sh!t scared of the prospect of a viable alternative to break their cartel.
Greece will effectively be locked out of capital markets for the next couple of decades, the BRIC's might come to the party and help them out but they have some bitter medicine to swallow.
I'd be surprised if Greece saw a cent of the money being promised by wealthier nations; all action will be on comfortably managing the capital crevice created by another round of ridiculous risky loans. Ireland will be off the IMF teat by 2013, Spain & Portugal will be given time to get their house in order, Italy's revival is underway but will take time to work through.
Greek corruption and tax evasion will need to be stamped out for them ever having a hope of coming back to the playground anytime soon.