I mentioned in an earlier post about Europe's bonds - or any bonds (BORROWING) for that matter....
Why is the US Treasury so low (rate)? And Europe's so high?
Nobody wants to own European debt. They'd rather have a negative net return (rate vs inflation) than own Euro debt.
I think what Mike (Bucketlist) and I are trying to say - and nobody wants to listen - is that what you're seeing in Europe NOW - is where the USA is headed continuing to spend what it doesn't have and to issue debt.
The reasons for the woes of Europe are many... but mostly it is based on entitlements and high tax rates. Too few paying too much - and too many doing too little and getting too much.
We have been given the opportunity to look into the crystal ball and see Americas future.
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