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It really is worse in Europe on the fiscal front. About half of German municipalities have busted pension funds, for example. The problem is also huge in Americ
by maoistinquisitr 9y ago
It really is worse in Europe on the fiscal front. About half of German municipalities have busted pension funds, for example. The problem is also huge in America, but it's an order worse and more imminent in Europe. Ceteris paribus the USA will probably blow up around 2025 or so, but instead hopefully in the wake of Europe's more imminent fiscal crises we can correct course somehow to avoid their fate.
- carterehsmith 9y agoOh, we've been hearing the same (German pension funds are underfunded, Germany is about to collapse) things for the last 2 decades at least. Did Germany collapse? Oh no, but sure will in two years... or whatever. Same with US. By now it should have turned to 1997 with Curt Russell being president &c, but it did not really happen. BTW same with any stock that someone on the internet has bought or shorted. Sure it's going down... about to collapse!!! Going up... buy now!!
- QAPereo 9y agoTo be fair, Detroit more or less conformed to the hype, a la Robocop, at least for a while. Cali is doomed long term with the water situation (Caddilac Desert is a great read), the future of Louisiana is unclear, and so on. The predictions have been off as to timing, but the trajectory seems accurate.