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post #761 of (permalink) Old 03-15-2012, 07:46 PM
country flag Dougie
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Re: Financial clusterfuck in Europe

Originally Posted by Jimnik View Post
If that were true Europe wouldn't keep lagging behind America the way it's been for the last 60 years. Europeans generally take the boring government and manufacturing jobs. In the entertainment and futuristic industries they lag miles behind.

Good truth is that hard boring work and high tax will make the crisis even worse. Europe needs to start adapting for the future and forget the old 20th century industries.
What makes you think Europe has been lagging behind? Do you really measure economic performance by whether jobs are interesting or not or how many blockbuster movies an economy produces? You think Europes problems are solved by entertainment? As boring as it sounds, hard work and taxation are the only things that can turn around the vicious cycle, the huge debts that have been building.

Besides, the futuristic industries have hardly kept the US citizen from having huge debts themselves. While the US GDP growth has been impressive compared to EU countries, it´s been fueled by borrowed money, which is the primary resons fot the whole credit crisis.
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