|
| Thread: Dummy Economics Question | |
|
blizzardboy
Honorable
Undefeatable Hero
Nerf Herder
|
posted October 24, 2010 03:25 AM |
|
|
Dummy Economics Question
http://www.usdebtclock.org/world-debt-clock.html
What factor has caused Greece to go on the verge of collapse and ask for bailout money from outside countries? There are other places that, by the numbers, seem worse off in debt than them yet don't need to do that. What was the issue with Greece then?
____________
"Folks, I don't trust children. They're here to replace us."
|
|
Warlord
Famous Hero
Lord of Image Spam
|
|
posted October 24, 2010 03:34 AM |
|
|
Have you looked at the percentages? First in owing to public, 4th to outside world. Seems pretty scary to me.
____________
|
|
blizzardboy
Honorable
Undefeatable Hero
Nerf Herder
|
|
posted October 24, 2010 03:40 AM |
|
|
Look at Ireland. If Greece needed bail-outs, then why hasn't Ireland been swallowed by a black hole by now? I literally thought it was a typo at first.
____________
"Folks, I don't trust children. They're here to replace us."
|
|
Warlord
Famous Hero
Lord of Image Spam
|
|
posted October 24, 2010 04:03 AM |
|
|
Oh. Wow. I'm sorry for Ireland.
Still. Greece has the largest internal debt.
____________
|
|
DagothGares
Responsible
Undefeatable Hero
No gods or kings
|
|
posted October 24, 2010 07:56 AM |
|
|
Why hasn't Ireland become some country's vassal state by now?
____________
If you have any more questions, go to Dagoth Cares.
|
|
blizzardboy
Honorable
Undefeatable Hero
Nerf Herder
|
|
posted October 28, 2010 05:31 AM |
|
|
Okay, maybe there isn't as obvious of an answer as I had hoped.
____________
"Folks, I don't trust children. They're here to replace us."
|
|
JollyJoker
Honorable
Undefeatable Hero
|
|
posted October 28, 2010 08:10 AM |
|
|
|
Well, it's actually not only ONE factor, but a whole handful of them. High debt is just one of them. High unemployment rate, lots of early pensioneers (with exploding pension costs), high inflation, trade deficit, high percentage of tax evasion crimes, you name it.
|
|
Binabik
Responsible
Legendary Hero
|
|
posted October 28, 2010 10:02 AM |
|
|
Quote:
lots of early pensioneers (with exploding pension costs)
I was surprised a few months ago when I saw that the average age in Europe is quite a bit higher than in the US. The US had a huge baby boom after WW2 and I thought that was worldwide. It probably was but it seemed to be different in the US.
The point is that when the baby boom generation retires in large numbers it will have a huge impact on the economy. With the average age being higher in Europe it will hit there before it hits in the US (which will be very soon with the leading edge of boomers starting to reach retirement age).
Anyway, one thing I've heard about Greece is that workers keep going on strike at a time when the economy is already in bad shape, so it's exactly the wrong time to be doing that, and only makes things worse.
|
|
JoonasTo
Responsible
Undefeatable Hero
What if Elvin was female?
|
|
posted October 28, 2010 12:28 PM |
|
Edited by JoonasTo at 12:36, 28 Oct 2010.
|
There was a baby boom after WW2. But USA is "less modernised", at least partly, than most big european countries are. Meaning it hasn't got the same small family structure where families have average of 2 kids or under.
As to the Ireland Debt issue, they took that debt in order to raise the country to it's feet years ago. It was aggressively invested in order to suport the industry and renew the private sector.
____________
DON'T BE A NOOB, JOIN A.D.V.E.N.T.U.R.E.
|
|
|
|
