I am much more worried about the US. The Euro is still @ $1.41 USD to 1 Euro...
In the US, you have Minnesota shut down, California has some financial mess (even though life goes on as normal there), and the South is 'lowing taxes' with ill-regard to the chaos and poverty that they are creating everywhere. Outsourcing has led to increasing taxes and prices on goods and services that can't be done overseas (the revenue has to come from somewhere).
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I'm not sure what went wrong in Ireland, but over the last ten years or so, they've been doing well economically. Whatever it was that knocked them on their ass should hopefully be contained/rectified in order to get the nation back on track.
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Lowering corporate taxes didn't work, again?
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The biggest problem is that energy is getting expensive, and 'most people' aren't willing to reduce their spending on oil and other energy imports. In the US, $1 billion dollars each and every day would go a long way to getting people back to work, fixing schools, and building stuff again.
The second biggest problem is people are living unhealthy lifestyles, either by choice, bad luck, or by not getting cheap preventative care. The fact that there is more money in keeping people hooked on drugs everyday vs a cheap one-time vaccine has made things too expensive.
In Europe, they should be in a better position to get out of this financial mess. They need to look into the smoking bans that the US imposed, and reduce the unhealthy food served in fast food places, and continue improving their good rail system and reduce oil imports.[COLOR="DarkSlateGray"]