Quote:
Originally Posted by gregbradley
It used to be gurus predicting the tops of stock markets. Since the GFC there is a glut of those who try to predict the next financial disaster.
Greg.
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The disaster is already in place Greg - the debt already exists.
If a household has taken on excessive debt there are two possible soloutions: ignore the problem, get as many credit cards as you can and spend your way into bankruptcy or; live frugally, make do with what you have and get the debt paid down.
Nations are facing the same two choices and electing to create more debt instead of tightening their belts. If debt reaches an unsustainable level nations blow up just as surely as a household can.
Memory fails me but there was an American President who made a statement to the effect that unregulated bankers are the greatest potential enemy a nation might have.