New Jersey...Gov. Christie has made massive cuts to curb the deficit that has been racked up by liberal democrats and entitlement spending for two decades. Many protest, especially the public school system and others (Greece style). Guess what? He has turned the ship around and being fiscally responsible. NJ will be the shining star very soon and will have a balanced budget, no debt and a prosperous state. Little is heard of Ireland. They are in debt big time...but the leaders have implemented cuts across the board that was hard at first, but have made tremendous progress with the banks and have cut the guberment down. Ireland will be another shining star in a world of the G20 who wants to tax everything. The best of Greece with the IMF loan....is that they DEMAND they privatize health care b/c it has got'n out of control. Also 1 in 3 work for the guberment in Greece. They cannot and never will pay their bills. EVER! They are so in the hole it is impossible to pay off the guberment bonds/bills/pensions/entitlements. So, here in the USA, what do we have? Obamacare....which is a total failure. He has has put us in debt 8x than under Bush. In fact, he has spent more money than all the great President's combined!!! Bush spent a lot...and not happy about it...but he spent with wars, just like in WWI and WWII. Obama and the power hungry politicians want to spend all our money to get votes. More nipples on the guberment roles = votes. The EU and ECB fallout will end the liberal, socialized mentality...and will end Obama. The USA debt is $50T...that includes our unfunded liabilities....off balance sheet (ENRON) debts. Lastly, do you know who holds the #2 of our debt? think about it....think about it...... It is the US guberment. Intra-guberment holdings is #2 behind China. Well, how can that be? It's the ponzi scheme of stealing money from SS and Medicare/Cade. It's all broke. Last thing to think about....Fiat Money in history has always collapsed....most it lasted was 250 years. Guess what? Look at the EU and the USA and make up your mind. Look at Cali...they are Greece(liberal dem's have spent it into BK11). My cousin's and Aunt live there say it is a total disaster. Thank God I live in Texas...no state income tax, no housing crisis (my home has gone up in value since 2007). In fact, Texas has the best economy in the nation. Stok
Just thought I would add that the average lifespan of a fiat currency is 20-50 years. We stopped backing our money by gold 40 years ago which means....so did the rest of the world since we were the reserve currency. Look like we are right on track to fail.
I am really confused about your post... You begin by applauding Ireland for their efforts and predict that the country will be a "shining star". You then go on to predict the end of fiat money and, if I am not mistaken, suggest that it's what's in store for the EU. But Ireland is part of the EU, uses EUR and is one of the biggest beneficiaries and defenders of the common fiat currency. Methinks you haven't really thought things through...