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post #757 of (permalink) Old 03-14-2012, 10:01 PM
country flag MaxPower
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Join Date: Apr 2011
Age: 33
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Re: Financial clusterfuck in Europe

well yeah for people that understand statistics it's really bad and bailing out countries that has done decades of tax fraud and shitty budgeting costs insane amounts of money.

The problem with many countries are that they have been ran like crap for a looooooong time. The decision makers in those countries have been living in denial. They had the numbers, they knew about the budget deficits, they knew about all the negative trends. Then the day when they can't pay wages then they start to do things they should have done years ago? Give me a break. If they had acted in time it would have been less painful and a helluva lot cheaper.

In the end all these years of mismanagement can't be paid for on short notice. That's why the numbers look so freaking awful even compared to the GDP of a major financial power like Germany. After bailing out banks, then bailing out countries one just wonders what Europe will have to rally to bail out next. It's too much cold hard cash. Those resources was probably needed elsewhere and could lead to other problems the decisonmakers in Europe now put on the next line of decision makers.

The youth unemployment is ofc bad and that's even a problem in Sweden. I do think the healthcare business will soak up a lot of people the next 10-20 years as the population in Europe only gets older and older. Problem is that young people don't want to work in that line of business. Everyone wants to work in media or doing something innovative and fun.

Sad truth is that hard boring work and high tax is what will save Europe. There are no more shortcuts. Bailouts can buy time but Europe and especially southern Europe needs to accept that it's a global economy now. Adapt or watch the jobs disappear to Asia or what not. The competition has skyrocketed and Europe can't pay for "free-riders" with high unemployment and crap to trade.
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