To: kabar
Comparing just the US publicly held debt to Greece is comparing apples to oranges
One major difference is Greece has no control over her currency as she has effectively ceded her monetary policy to Brussels. Hence Greece cannot depreciate or print money. The US can.
To: SeekAndFind
The ability to print money is a two-edged sword. Greece is being forced to address its problems and has some hope of surviving. We may get to the point that our entire economy collapses and we will be carrying our money around in wheelbarrows like the Weimar Republic.
10 posted on
05/16/2010 1:08:11 PM PDT by
kabar
To: SeekAndFind
One major difference is Greece has no control over her currency as she has effectively ceded her monetary policy to Brussels. Hence Greece cannot depreciate or print money. The US can. Printing dollars will save us, only "saving us" will mean high inflation, a long term jobless recovery and eroded buying power: in effect a much lower standard of living............hey, but we are "saved"
21 posted on
05/16/2010 1:51:03 PM PDT by
Popman
(Balsa wood: Obama Presidential timber)
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