High levels of debt in some European Union nations have caused confidence in the Euro to slide. It’s lost 9% of its value in two months. If that’s sustained, it’s 68% annual inflation, and the Euro will die because Europe took on debt.
With our debt at %12,367,800,000,000 and counting, we need to be more careful with our own finances, lest our own currency disappear in a debt-driven inflationary blaze of glory.
So why don’t we stop racking up debt like this? Because to even start breaking even in our budgets, we’d have to cut total government spending by a whopping 41%. And that doesn’t look politically feasible right now.
This morning, I wrote a midterm essay paper on a country where the democratically elected government found itself unable to rein in spending. Once things got bad enough and 100% annual inflation wrecked the economy, the military stepped in and took over, beginning a 15-year repressive dictatorship. That country was Brazil, in 1964.
hyperinflation in europe?
High levels of debt in some European Union nations have caused confidence in the Euro to slide. It’s lost 9% of its value in two months. If that’s sustained, it’s 68% annual inflation, and the Euro will die because Europe took on debt.
With our debt at %12,367,800,000,000 and counting, we need to be more careful with our own finances, lest our own currency disappear in a debt-driven inflationary blaze of glory.
So why don’t we stop racking up debt like this? Because to even start breaking even in our budgets, we’d have to cut total government spending by a whopping 41%. And that doesn’t look politically feasible right now.
This morning, I wrote a midterm essay paper on a country where the democratically elected government found itself unable to rein in spending. Once things got bad enough and 100% annual inflation wrecked the economy, the military stepped in and took over, beginning a 15-year repressive dictatorship. That country was Brazil, in 1964.
Let’s pray we don’t head the same way.
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