Hey Bruce, in light of the events of the past week, how about an update on this topic? I'm far from knowledgeable about financial matters, but it sure seems like there is a LOT of exposed beach right now. I think I'll move quickly to high ground.
For better or worse, the US still has its own currency, as do many other countries outside the G7, which at least gives them a certain measure of economic sovereignty. Here in the eurozone, we are trapped in a broken monetary system. When the eurozone melts down, it will be hellish extracting ourselves. Those European countries who still have their own currency, such as Hungary and Poland, will have an easier time of it. Within the eurozone, probably Italy is the country to watch. If it breaks, I can't see the currency union surviving.
One thing I've never understood in global economics is how everyone can be in debt simultaneously. Somebody has to be on the positive side of the ledger sheet, right? Is it just private billionaires?
Hey Bruce, in light of the events of the past week, how about an update on this topic? I'm far from knowledgeable about financial matters, but it sure seems like there is a LOT of exposed beach right now. I think I'll move quickly to high ground.
For better or worse, the US still has its own currency, as do many other countries outside the G7, which at least gives them a certain measure of economic sovereignty. Here in the eurozone, we are trapped in a broken monetary system. When the eurozone melts down, it will be hellish extracting ourselves. Those European countries who still have their own currency, such as Hungary and Poland, will have an easier time of it. Within the eurozone, probably Italy is the country to watch. If it breaks, I can't see the currency union surviving.
When the world debt is so high like this it does make me worry but I also start to wonder who we owe. Jupiter?
Thanks for helping me to understand this.
Thanks for this, Bruce.
One thing I've never understood in global economics is how everyone can be in debt simultaneously. Somebody has to be on the positive side of the ledger sheet, right? Is it just private billionaires?