France has lost its top AAA credit rating from Standard & Poor's and eight other eurozone governments have also been downgraded by the ratings agency.
Italy, Spain, Cyprus and Portugal were cut two notches, with the latter two given "junk" ratings.
Germany kept its AAA rating, and with a stable outlook.THE SOVEREIGN DEBT OF EACH OF THESE 9 NATIONS IS TOO BIG COMPARED TO THE SIZE OF THEIR ECONOMY.
NONE OF THESE 9 NATIONS GOT INTO THEIR DEBT PROBLEMS BECAUSE OF BLOATED DEFENSE BUDGETS, "UNFUNDED WARS", OR "TAX CUTS FOR THE RICH".
THEY GOT INTO DEBT TROUBLE BECAUSE OF THEIR SOCIALISTIC SPENDING PROGRAMS.
THERE'S BEEN A DOUBLE WHAMMY AT PLAY HERE:
1- NOT ONLY ARE THESE SOCIALISTIC SPENDING PROGRAMS BANKRUPTING THEM, THEY FAILED TO DELIVER THE GOODS.
2 - AND FOR DECADES THEY'VE BEEN PAYING FOR THEM WITH HIGHER TAXES ON THE RICH - WHICH PUNISHED THE PRODUCTIVE PEOPLE AND PUT A DRAG ON THEIR ECONOMIES WHICH SLOWED THEIR GROWTH RATES AND SHRANK THEIR ECONOMIES.
THERE'S ONE WAY TO FIX THIS PROBLEM:
CUT THE SIZE OF GOVERNMENT AND CUT SPENDING AND CUT TAXES.
2 comments:
As usual, the anti-socialism club has the world turned upside-down. Real wealth starts at the bottom, not at the top. The more people learn the realities of socialism, rather that the hysterical distorted utterances of the misinformed, they will understand that open-ended capitalism will only benefit the already wealthy 99% of the time.
HI RON. THANKS 4 COMMENTING.
U COULD NOT BE MORE WRONG.
U WROTE:
Real wealth starts at the bottom, not at the top.
THAT'S A LAUGHER!
ANYONE EVER GET A JOB FROM A POOR PERSON?
ANYIONE START A BUSINESS WITH NO INVESTMENT? OR GROW IT WITH NONE?
SHEESH.
U WANT THE REALITY OF SOCIALISM?
LOOK AT CUBA - ONCE THE 3ND RICHEST NATION IN THE CARIBBEAN. LOOK AT NORTH KOREA VERSUS THE SOUTH.
LOOK AT PRE DENG XIAO PENG CHINA VERSUS POST. OR COMPARE THE USSR TO RUSSIA.
ALL OF EUROPE IS GOING DOWN THE TUBES - AND DRAGGING EUROPE DOWN AIN'T BLOATED DEFENSE BUDGETS OR TAX LAWS THAT ARE OVERLY GENEROUS TO CORPORATIONS OR TAX CUTS FOR THE RICH OR UNFUNDED WARS.
WHAT HAS BANKRUPTED EUROPE IS SOCIALISM / THEIR WELFARE STATES.
SUNDAY, JANUARY 01, 2012
IN DENMARK, IT PAYS NOT TO WORK
FROM NORTHERN SEER:
In Denmark an average family of four that is on kontanthjælp receives government cash, rent subsidies etc that equal what a working dane has after taxes from earning 29,600 dk kr/month.
That's $70,000/year!
So, for one of the adults in that family to take a job he or she would need to find a entry level job at $1250/wk - JUST TO BREAK EVEN.
In Denmark half the working people earn less!
So, why should a family on kontanthjælp ever get a job - especially a crappy one?!?!?
So, when half the country is getting benefits, and 25% are public employees, then the last 25% is pulling a lot of weight.
That is an untenable situation.
IT'S THE WELFARE SATE - AKA SOCIALISM - THAT IS BANKRUPTING EUROPE, NOT TAX CUTS FOR THE RICH OR MILITARY SPENDING.
FOR EUROPE TO BECOME SOLVENT, THEY MUST DISMANTLE THE WELFARE STATE AND CUT TAXES AND REDUCE REGULATIONS.
THE ONLY THING THAT HAS EVER LIFTED POOR PEOPLE UP IS CAPITALISM.
RON:
WAKE UP OR FUCK OFF!
BTW: YOU CAN SEE THE LIGHT.
I DID,
I WAS A COMMIE ONCE.
MY PARENTS WERE CARD CARRYING MEMBERS.
I SAW THE LIGHT.
U CAN 2.
FIRST TAKE YOUR HEAD OUT YER ASS.
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