We are having a debt problem in the USA - the EU may be joining us soon. It's not for sure, but needs watching.
Countries in the Euro zone mostly have sovereign debt problems from financing social programs with debt.
If some of them go - that is, if several countries have financial crises like ours - look for another worldwide recession.
We are all in the same boat now; when one sinks, we all drown.
Y'all can read it here:
Here's the thing: banks.
No surprise here Barry.
If we don't corral the bankers, they will just make things worse by profiting from disaster. Not just US bankers, either; I mean all of them.
Greedy bankers pass the laws they want in every country so they can make billions while the rest of us can just 'eat cake' if we don't like it, just like Marie Antoinette said.
I'd really like to say that we are leading the world in reforming bankers and helping average folks; but I can't say that. Our bankers are right there with the leaders in passing laws that help themselves at our expense.
Brings a grown man a tear.