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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: one_less who wrote (629993)	9/30/2011 12:07:02 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 1575173

Before giving up the gravy train they wil take the country off the cliff. Amazing but true.

To: one_less who wrote (629993)	9/30/2011 1:49:46 PM
From: i-node	Respond to of 1575173

The government of Greece has failed to reform the economy or to reduce public spending since they joined the eurozone. Their current debt crisis is now unmanageable and the eurozone itself is suffering under the burden. Some other countries in the eurozone are also struggling with unmaneagable debt, then on the periphery you have Spain, Portugal and Ireland in economic trouble. Those countries with in a little better situation are being asked to sacrifice to stabilize the region. All this has an adverse effect the USA since Europe is a primary customer for our exports. So in addition to the problems you refer to, our economic growth is being stalled by europe's buying power which is focused first on the Grecian crisis. I agree with all this and believe that Greece poses a threat to the US economy by virtue of what it might do to the global economy if the EZ collapses. OTOH, had we not squandered our opportunities to handle the situation correctly in the US, the threat posed by Greece would be considerably less, at least in the immediate term. We've added massively to our own debt which has exacerbated the problem in the US while not mitigating any of the economic problem at all.