Do the math: Nine countries have debt-to-GDP ratios over 300 percent; this will end disastrously
by: J. D. Heyes
NaturalNews.com
Wednesday, March 25, 2015
The world’s great powers, over the past 100 years, have grown more liberal in their societies and socialist in their economies.
Of course, plenty of people will dispute that, but facts are, as they say, facts, and no matter how many times you shout down the truth teller, that won’t change.
And in this case, the facts are in the numbers or, more specifically, in the percentages – as in, “debt-to-GDP” ratios (GDP being “gross domestic product,” or the value/amount of all goods and services produced within a country on an annual basis).
At present, there are a huge number of countries – many with very large economies – whose debt-to-GDP ratios are so far out of balance that there is virtually no way they can ever be corrected, at least in one lifetime. And every one of them have very liberal or very progressive (i.e. “socialist”) taxpayer-funded public entitlement and benefits programs.
Monster debts for most countries in the West
What’s more, as their population ages, there are fewer and fewer citizens in the workforce of those countries to pay the taxes necessary to fund the government’s programs.
What’s more, in most if not all of the countries with absurd debt-to-GDP ratios, it is politically impossible to “reform” the government benefits programs, meaning they will remain on autopilot until the countries themselves simply run out of a) money; b) credit; or c) both.
The Rest…HERE
