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Blindfolding America

Updated on November 10, 2011
Greece | Source
Italy | Source

Euro Debt

All the news in the United States these days is about the strife in Europe.

Greece has a large economic debt and the European community is trying to work out a bailout for it.

This means that the rest of Europe will pay off the Greek banks debts. Although this will bring some hardships to the European community, it will bring bigger ones to the Greeks, the Greeks are therefore debating as to whether they should accept it.

Membership of the European community has advantages, such as this proposed bailout. However it also requires a country to operate within certain economic guidelines. If Greece refuses the bailout, it could face expulsion from the European community.

Although most believe that membership of the European community is the best thing, it is up to the Greeks themselves to decide what they believe would be best for them. After the Greek PM was pressured into cancelling a referendum on the issue, the Greek government seems to be divided on which road to take.

The problems with Europe do not stop there though. Italy, also a member of the European community, is the eighth biggest economy in the world with the forth biggest debt. If Italy cannot turn itself around, it is unlikely that the rest of the community could offer them a bailout; the debt would be too great.

United States
United States | Source

United Staes

I know that the economic situations of Greece and Italy have an effect on the US economy, as does that of the European community itself and so there is no surprise that this is in the news but what is missing?

The United States themselves are the biggest economy in the world and also have the biggest debt. What should be in the news is what it is doing about it.

The media, manipulated by the banks [they have the same owners] are diverting the attention of Americans to Europe to distract attention from what is being done in the US.

The only reason that Europe has this controversy is because they are trying to do something about their debts. They are trying to lift themselves out of this financial burden. The United States is not.

The US is not trying to eliminate their debt; they are having trouble even trying to slow down its increasing size.

It would appear that the powers in the US are waiting to see who they can blame for their situation instead of trying to do something themselves.

At least Europe is facing facts and hard decisions, trying to right the situation, whilst the US stands back, sinking, looking for whose back they can step on.

The World
The World | Source

The World

If the US economy was totally dependent on the EU, then it could be understandable why the US would want to try and stand on them. However, the US is not totally dependent on the EU, so why would they want to step on a teetering stone?

Even if there was a recession in Europe, next year the global economy is expected to grow by 4%. If all things remain as they are today, it is estimated that this extra growth will go to the emerging economies of the “bric” Brazil, Russia, India and China.

For the United States to start to lift itself out of its growing economic disaster, it must find a way to eliminate its political stalemate. This will only happen by the American public demanding their representatives do it. They will not do this whilst their attention is being diverted to Europe.

Europe got itself into its situation and is trying to get itself out. The US got itself into its situation and is sitting around waiting in the hope that someone will get them out.

It is time that the American banks and politicians made the hard decisions. It is not the European economy dragging down world growth, it is the European AND American economies dragging down world growth and creating a possible world recession.

It is time these people stopped trying to blindfold the American public and started to do something about their own situation; nobody can afford to bail them out.


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    • f_hruz profile image

      f_hruz 6 years ago from Toronto, Ontario, Canada

      How much longer will Americans wast all that massive amount of money on the military before they come to their senses and start using all that cash to put the US economy on the right track so working people have jobs to go to again?

    • diogenes profile image

      diogenes 6 years ago from UK and Mexico

      Many people hope it crashes here. It will always be a leaky ship and the Euro was a huge mistake from the outset which Britain refused to join. We are still helping with the Greek bailout but in a minor role. All eyes are on Italy, as you say. It is the third largest economy in Europe and has the capacity to drag the rest of the EC into recession again. All this bailing out and rescue packages are just to save these damned banks again which stand to loose up to a trillion euros if the danger economies fail. They are Ireland (again) Greece, Italy Portugal and Spain. Next would be the UK if the dominoes continue to fall and this would put a huge strain on the US of course. These events happen fast today as well...Bob

    • Jed Fisher profile image

      Jed Fisher 6 years ago from Oklahoma

      Central banker policy is at the heart of it all. The zero interest rate policy pulls money out of the economy and makes it impossible to repay debts.