Europe's and the World's Magic Formula for Bankruptcy

By Tomas Sedlacek, published in Europe's Wold, Earnest & Algernon in 05-10-2012

Greece, like so many times in the history of our civilization, is not sluggishly lagging behind us, as often portrayed in the media, but on the contrary: Greece is ahead of us – they have merely bankrupted some decade or two ahead of us. If other countries continue to grow the way they have, and change nothing about the unsustainable growth system, then they, too, will arrive at a similar fate: collapse of the economy as a result of too much debt, and debt because of why? Because of growth. It is not the lack of growth that can bankrupt us, but the excessive amount of debt sacrificed for growth's sake. It isn't the lack of growth that could bring us Europeans to our knees – it is the desire to have too much growth that does...

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