Re: The PIGS are revolting!

Most countries have been running up debts Erinaceous; the whole world is in debt. Even China has a 1.7% deficit against its GDP. Everybody needs to get together to sort this out - some countries are better off than others but they all have debts which are becoming harder and harder to manage. The bankers have (and still are) greedy and irresponsible. A few people and organisations have become very rich, but many more are hurting badly. We are encouraged by governments to spend to keep the world moving. Have we been badly advised so that others can become richer. I firmly blame the bankers and the governments for the position that we (and many countries) are in. Yes everyone now has to tighten their belts and make adjustments which will be painful, but I don't think it fair to blame populations as a whole for the mess we are all in.
Would it work (and if all the countries of the world could agree - which they won't, of course) if all the debt was proportionally written off - everything worldwide took a step down and we started over again. Or do countries need to go to the wall and become truly bankrupt and taken over by other countries. Given that I don't think much of this will be sorted out anyway I have no logical answer other than to let failing countries bite the dust and the people starve and die, although I have no doubt that some other country would see something useful there and come in to take over and add the weaker country into their own. Call me naive, but I really do think it is time for everyone in the world to think more collectively.

Re: The PIGS are revolting!

It will end in war.

It's a crying shame that the US banking cabal especially in the case of The Fed, actually a privae bank are the root cause when they broke their word on holding the $US linked to gold but such is the nature of the beast. Just try searching who actually owns The Fed.