Mxsmanic wrote in message
news:ljoaovkanbtde6p35irqite06choputis5@4ax.com...
> Captain Flack writes:
>
> > American's are rich? Really? With all that money, makes you wonder why
> > they need to KEEP BORROWING SO MUCH!
> >
> > http://www.brillig.com/debt_clock/
>
> The government is borrowing a lot. In fact, on a per capita basis, the
> major part of every American's debt is his share of the national
> government debt.
>
This is of course perfectly acceptable whilst the American economy continues
to grow. In fact, the entire US economy rests on the assumption that it will
continue to grow at rates that are higher than anywhere else. This approach
seems somewhat flawed and a bit scary to folks outside of the US, but does
seem to be working. Much of this growth can be attributed to the creation of
new markets where they never existed before, something America is very good
at doing. Structuring society so that working long hours is necessary to
stay afloat is another tactic that has done wonders for their growth too.
This has been at the expense of quality of life in my view, one of the
reasons I would prefer to live in Europe over the US, even if it means I am
technically "poorer".
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DFM
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