Is Greece a Microcosm of what is going to happen in the USA?

Discussion in 'Economics' started by KINGOFSHORTS, Apr 8, 2010.

Will the US end up like Greece

  1. Yes

    13 vote(s)
  2. No

    3 vote(s)
  1. good question. i think you have to take into consideration that greece is a member of a federal system and the usa is a federal system. it is more likely some states will have less debt and brake away to form new alligences. imo.
  2. clacy


    I respect your opinion, but the chances of states breaking away from the US is nil (or at least in the next 30 years). The federal government would NEVER let this happen and at least for now, people in the US have way too much to lose for them to want to get involved in a civil war.
  3. Morganist, I was just saying almost the same thing yesterday. Although, Greece is not really part of a federal state because the EU is not a federal state. The problem there is that Greece has an awful lot of autonomy for a country that doesn't have the ability to print its own currency. This greatly amplifies the moral hazard problem. Greece can shift the burden of its bankrupt policies onto the more prudent members of the currency by threatening the very existence of the currency. It can't do it forever, of course.

    We differ from Greece in that the United States can print its own currency. We'll become Zimbabwe before we become Greece because there is nobody to bail us out.

    When that happens (when, not "if"), I think there's a fairly decent probability that the country will break up into pieces as the economy implodes under the sociofascist load.

    Personally, I think that's at least 15 years out and possibly longer. Depends on when we finally put a stop to the socialization trend Bush started and Obama sped up so intensely.
  4. jjj1000


    Exactly! Zimbabwe, maybe, default, no way.
  5. olias


    it is an interesting question, and one that deserves debate. We need to take a look at where we are heading with our current mess. I think people are afraid to talk about it because it's not a pretty thought.

    I'd like to get Ben Stein's take on it :)
  6. your probably right. i don't know the social side of it just economics. if it was to happen i would imagine the east cost states new england area to be the lead. but like you said the situation would be long term.
  7. All this talk about secession coming from outside the US imo. The main problem appears to be federal intrusion in matters reserved for the states. Hence sovereignty bills being introduced. I think some of you underestimate the resolve of US citizens to demand changes without a breakup if conditions get bad enough. You would think we are being herded like sheep according to some media. Total bs.
  8. US will turn out much worse than Greece. In less than 5 years, too.