Quote:
|
Can the United States pay the money back?
|
Judging from the media coverage as well as past debates in this forum, the more interesting question is who in the US would even wish to do so. Living on tick seems to be taken as a God-given right by the US.
In the past 500 years, the vast majority of European powers had to reboot at one time or the other, due to total state bancruptcy that was the consequence of spending more than one could afford, and especially excessive military spending.
What is strange is that America could learn from these examples - but doesn't.
But with that strange habit it is not alone. Others repeat the very same economical and financial mistakes of the past as well. But no other causes so high waves by doing so.
They say there is something called evolution. more and more often, when looking at man's history, I doubt that. It always seems to be the same old stories that meanwhile got forgotten - and thus get repeated while assuming they are new.