Could someone please explain something to me

[Blugg]

Being someone who follows Worldwide current affairs, how is it, that the different countries in the world are all going bankrupt

There seems to be, very recently (last 18 months) A rather large surge, in the general public taking to the streets. In protest towards governments. Against banks. Or just general anarchy.

UK
France
Greece
Libya
Germany
USA
Spain
etc etc

Here in the UK we have had riots, daily demonstrations and general unruly behavior. The Wall Street anti capitalist demonstrations have now spread to other countries. Including here in London.

i'm a bit puzzled to where it will end and indeed how did we get here

[digitalputty]

I am not sure how we got here. It's a horrible time ... and I think that since every country pretty much depends on the other, if one falls ... we all fall. Especially in the States.

No idea ... heh.

[MyOtherRidesAVette]

Perhaps people are simply tired of being ruled by a dictatorship under the guise of a democracy. Our governments are out of control, and We, the People, are being taxed into oblivion. The American Dream still exists but is no longer attainable. Perhaps it is time for a change, and since we can't vote change into office, not much left but anarchy and revolution. Vive La Revolution!

I for one, support the concept of OWS! Not for the benefit of myself, change won't come quick enough, but for my children and their children! http://occupywallst.org/

M.

[Stlbug]

WOW! I will do my best to explain. To get a better understanding of it all you must undertand that All governments of the European Union are socalist democracys. Greece for an example. The country of greece spends 150% of it's GDP. It borrows money from the European banking system to make up for the short fall, ie, massive debt. Why do they have to borrow so much you ask? HIgh wages paid to govenment employees, free medical care, High expencive retierment payments, in greece you are allowed to retire at 50yrs old.They cannot make good on govenment bonds and thus nobddy wiil by them except France and Germany, probably the USA too. The people and bussines of Greece are taxed too high already, and moving out, no reveue base. Greece, Spain, Italy, Irealand, and even England, suffer from this problem from one degree or another. High taxes on free enterprise capitol, over regulation,and large govenment burocracys,cause high unemployment. No work, no tax revenue, witch will compound the problem. Now, in order to get Greeces money problems in order, The Euroupean Union, ie, France and Germany, have demanded that Greece control it's spending, cut spending, cut govenment union wages, and benifits, and cut retirement pay. If they don't, Greece will fail and become a third world nation. No running water,no electricity, no jobs, no,food, you get the Idea. So the unions strike, riot and burn things, all because they have to give some conssetions on their compemsation to remain a modern nation.

Now for the USA, Obama, and the democrat party want to turn the usa into a european type government. While Obama and the democrats had compleate control over the house and senate, they spent the usa into oblivion, 14 trillion dolars worth, they are trying to give us european style health care, raising taxes on everything to pay for it. New regulations on bussiness, cause many to fold up,many to not take on new hires, because they don't know what the rules are going to be. The democrats demanded the lending instituions lend money to people who could not affourd a house. The banks had no choice but to make these complicated finacial derivitives and sell them to delute their bad ink, thus the housing collapse. Some european banks were dumb enough to buy them and thus , the almost global finacianal melt down. There is a battle going on policticaly, what kind of a government and nation are we going to be. The take over wall street people are a bunch of idiots that protest aganst capitalism and wall street greed or they say. While they smoke dope, comunnicating on their i pods,ipads blackberrys,smartphones,and cell phones, take life saving drugs, go to college, buy cheap gas, clothes, rent, food, they profess there hatred of capitalism. If it wern't for capitalism, they would not have any of these things. It has been found that about half of these people have jobs. Privett sector unions are paying for this to happen. They have recieved over$ 450,000.00 dollars in donations. They have a web site( run by captialist) where the AFLCIO has a link to donate to the cause. What is this all about you say? Obamas re-election, causing class war fare, capitalism,freedom and the right to pursue happiness vs. socialism. We are fools if we change to a european style of gornment. If people who think like this get our country for four more years---- GOD HELP US.

P.S. Islam and sheria law is all part of this too

[Smileybug]

You can't put the blame onto one person or party. The problem, at least in the US (I can't speak for other countries) has been growing for years and years and years. We're in several very expensive wars, spending is out of control and has been for a very long time, among other things.

Its all about learning to spend properly. Those in power, in both parties, are not doing the best job at it. The middle class and the poor are paying the price, even when they work their tails off.

There are a lot of issues at play here right now. There is not one simple answer, no one person or group to blame. You can hardly explain it in a simple forum post. Google for a few hours and read whats going on various places. Read about the movements taking shape. You'll learn a lot more that way than anyone here can hope to explain.

[miffmole]

Originally Posted by Stlbug

WOW! I will do my best to explain. To get a better understanding of it all you must undertand that All governments of the European Union are socalist democracys. Greece for an example. The country of greece spends 150% of it's GDP. It borrows money from the European banking system to make up for the short fall, ie, massive debt. Why do they have to borrow so much you ask? HIgh wages paid to govenment employees, free medical care, High expencive retierment payments, in greece you are allowed to retire at 50yrs old.They cannot make good on govenment bonds and thus nobddy wiil by them except France and Germany, probably the USA too.

Great post, Stlbug. Very well said.

[nighttrain1974]

Danny, I'll tell you the big problem straight away.

For years now both the USA and the UK have both been the first to step in around the world when things go a bit wayward.
This obviously costs an absolute fortune but it would seem that we are duty bound to go and fight wars which aren't really anything to do with us all for the sake of 'relations'.
Secondly the same can be said of aid around the world. We're normally one of the first to dole out money to any country sticking their hand out for it.
Now when you try and balance that out against our actual GDP it doesn't work because we're busily housing every visitor to our shores and making sure they get looked after as well.
So then we have to borrow from someone else to balance the books out and try and pay it back later. Then another crisis comes along and it happens again and again etc.....
So we don't pay back to the people we borrowed off so they now have to borrow to balance their books and round and round it goes until it can't anymore and we hit **** street or now.
Basically the entire world has lived off credit in one form or another and when it's come time to pay back people and countries can't.
Businesses and people go bankrupt every day and who pays for that, the average working bod through higher taxes etc.
The spiral has to stop at some point but who knows where?

So prices go up, people don't buy as much so tax has to go up to balance it out, people and business can't afford the taxes so go to the wall and those that are left have to share more of the burden.

Or simplify it more and say why the **** are we lending european countries money when we are so far in debt ourself? To anyone else that seems like suicide, to governments this seems to be the normal.

Then again if Bill Gates has a heart he would step in and buy Africa (seriously he could) and wipe out third world debt in an instant.

[USA1fan]

Originally Posted by nighttrain1974

The spiral has to stop at some point but who knows where?

I think we're finding out where. That's what it's all about. There haven't been many civilizations throughout history that haven't failed for one reason or another, though how long they survived varied. Look at Ancient Greece, Rome, etc.

Nothing is forever, since all human societies have had flaws of one sort or another. Eventually those flaws bring down the civilization. Then new ones form..

This might all be interesting to someone studying history 500 years from now. But for those of us living through it, things aren't looking good.

[squeebug]

a part of it too is that a lot of sub-prime mortgages made in the US were sold to overseas banks. Thus when our housing market took a dump and the houses went up for foreclosure, the overseas banks lost money when we couldn't make the payments which had an effect on their economy.