CUBA:
There is no question that Cuba is one of the most heavily indebted countries in the world and that its capacity to pay even a fraction of what it owes is severely impaired. Fernández puts this amount at 10.552 billion U.S. dollars and notes that a further 15 billion rubles are owed to Russia, as that country assumed the debt burden of the former Soviet Union. ...MORE FACTS HERE - via BABALU.
At 10.5 billion U.S. dollars, it amounts to 2 times the Cuban gross domestic product (GDP) of 5 billion U.S. dollars for a 2 to 1 ratio of debt to GDP. This is surely one of the highest ratios anywhere.
Bottom-line: If socialism was really better, then why has it ruined EVERYPLACE it has ever been tried? Cuba was once the 2nd WEALTHIEST nation in the Carribean; now only Haiti is poorer. And Cuba has horrendous debt burden it cannot expect to payoff - like the socialist nations of the EU.
As if the debt and poverty wasn't enough, they also suffer from a lack of personal liberty - like free speech, freedom to worship, and freedom from fear. Socialism is a bigtme, all-round losing proposition.
Yet the the chic ignorati and the phony degenerati of the Left - in Hollywood and on many campuses - still admire Fidel and Che, and teh EU's social-welfsare safety-net. WHY? It's a post-modernist thing: Anybody and anything which opposes the West, Judeo-Christian ethics, and the USA is admired. Even jihadists and Stainist tyrants.
The "profligate" USA has a very different debt picture:
Cuba and the EU are headed for a demographic/economic disaster. The USA is not. More proof that Leftist policies suck. Viva Reagan! Viva Thatcher! Viva Bush!
As if the debt and poverty wasn't enough, they also suffer from a lack of personal liberty - like free speech, freedom to worship, and freedom from fear. Socialism is a bigtme, all-round losing proposition.
Yet the the chic ignorati and the phony degenerati of the Left - in Hollywood and on many campuses - still admire Fidel and Che, and teh EU's social-welfsare safety-net. WHY? It's a post-modernist thing: Anybody and anything which opposes the West, Judeo-Christian ethics, and the USA is admired. Even jihadists and Stainist tyrants.
The "profligate" USA has a very different debt picture:
U.S. ranks 35th in the world in terms of public indebtedness, which means we have a lower Debt-to-GDP ratio than Italy, France, Germany, Singapore, Israel, Belgium, India, Japan, and a panoply of other countries.And as percentage of the economy, it is no higher now than in 1965. I seem to think that the economy has done pretty well since then -especially because of the TAX CUTS - both Reagan's and Bush's. IOW: Our debt burden is not too great a burden.
Cuba and the EU are headed for a demographic/economic disaster. The USA is not. More proof that Leftist policies suck. Viva Reagan! Viva Thatcher! Viva Bush!
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