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124 posts tagged eurokriisi
Short answer: Japanese people were saving before the bubble burst. The westerners have been saving just about nothing for decades. Add huge deficits year after year and it all starts making sense. Unfortunately.
Dr. Ron Paul on the subject makes some pretty valid points.
Jim Rogers is former partner of George Soros. Please, listen to this carefully.
as ever before… Especially it’s financial sector.
Here is some hair raising data published by The Cato Institute:
… I realize that everyone likes to focus on Debt to GDP levels, but the reality is that European banks owe far more when you account for unfunded liabilities.
I know the same is true for the US, but the US’s unfunded liabilities pale in comparison to Europe’s. As far back as 2004, we know that:
CountryDebt to GDP Including Unfunded Liabilities
- Greece 875%
- Spain 244%
- Italy 364%
- France 549%
- Germany 418%
- EU as a whole 434%
- US 400%
Source: Cato Institute
So, we have a bankrupt banking system in bankrupt countries…
Read the whole article at Pains, Gains & Capital
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