Wednesday, May 12, 2010

Is U.S. Greece's doppleganger??

This is an interesting article I just found on light of the recent Greece debt issues that discusses whether the U.S. debt problem is going to be Greece all over again. There is good argument for both sides, what do yall think?
Posted by at

5 comments:

  1. Ryan BizzisMay 12, 2010 at 3:38 PM

    I believe that the U.S. problem will not become Greece all over again. First of all they are referring to what could happen in 20 years assuming everything stays the same as it is today. Policies will change, massive bailouts will end, and our economy will begin to grow again. Twenty years after the Great Depression our country saw the baby boomers and an unprecedented level of growth and prosperity. Although times are much different today, whose to say that couldn't happen again?

    ReplyDelete
  2. Ashlee SteudleMay 13, 2010 at 7:53 PM

    I agree with the article and Ryan that Greece and the US are very different. We are not locked into the European Union (and all the economic restrictions/ currency restrictions) and we have many more resources available for future growth. Hopefully we will face a technological boom which will turn our debt troubles into a new period of prosperity and growth.

    ReplyDelete
  3. MattRMay 14, 2010 at 5:51 PM

    I think the second point in the article really shows why they are different. Greece is trapped. As we learned in 'This Time is Different', it is always hardest to renegotiate debt precisely when you need to renegotiate debt. As long as we are the world's reserve currency, I don't see the US getting 'trapped'.

    ReplyDelete
  4. Ben MinkoffMay 17, 2010 at 5:44 PM

    The U.S and Greece might be simililar only in the situation dealing with a huge debt deficit, but like Matt says Greece is trapped and the United States aren't. The U.S isn't locked into a currency with other nations and other nations are also relying on the dollar. I think the U.S is in much better shape than Greece.

    ReplyDelete
  5. JMalyMay 18, 2010 at 10:48 AM

    Like everyone else, I would have to say that the US is very different than Greece. As has been stated Greece being within the EU creates certain restrictions that the US doesn't have to deal with. The US also has a much better track record with the rest of the world and therefore we are able to get leeway from other countries to help support the economy if anything if default becomes a problem.

    ReplyDelete

Subscribe to: Post Comments (Atom)