God bless Dr. Gates’ Magical Crashing Quills for saving us from potentially pompous drizzle and helping us channel frustration into clear-flowing exposition.]]>
the major difference between big nation debt and small nation debt is just that: size. big nations are actively encouraged to get into debt because so many actors in the system stand to make a profit out of it, whereas small nations are faced, sooner or later, with the impossibility of borrowing any more legitimately and must be bailed out instead. i think it was mark twain who wrote a short story called the “million dollar bill” about a man who, having a million dollar bank draft in his pocket, never had to pay for anything because everyone was only too happy to sign him up as a customer on terms of credit or even as a freebie.
i’m just glad you all got some compulsory coverage after all. it looked a bit tawdry, the world’s greatest nation not being able to provide for its sick and ailing. it will do wonders for the overseas image of the US.]]>
So silly! First of all, like you mentioned, the Germans are doing just fine. So well, they can bail out Greece, in fact. Like you, I wonder if Greece will still be a Eurozone nation after all’s said and done.
But the argument “European ‘green’ socialism is evil, we’ll have none of it!!!’ ” has been popular over here for a long time. Long before the Greek sovereign debt crisis.
And that’s the second point — Greece’s problem is a sovereign debt crisis. Not a health care crisis. We DO have hideously high deficits over here, but the total amount of our debt is much lower than Greece’s. So we’ve got more time to fix it.
Of course we won’t, until it’s too late — but it has nothing to do with health care!]]>