Who is ready for the pain?
 

There are countless posts here from people giving their opinions on their countries economy, spending and deficit problems. All offering fixes, which won't work without pain.

Western countries overspent, under taxed and borrowed to fill the gap for decades. So much so a huge part of our economies are now reliant on Government spending. Even memberships to porn sites. Cutting the spending, raising taxes and reducing the borrowing is one long term solution.

Another is. Cutting the spending, raising taxes and investing in future technologies is another long term solution. It will need Government investment. Private will invest in get rich quick schemes to please share holders.

Both solutions will cause less spending power for the populations of those countries.

Who is willing to accept the pain?

If you have any other solution, please tell us. Like cutting benefit cheats and reducing the spending as much as $5 billion.

Or stop paying welfare all together and bring all the troops home to guard you.

Or sack the troops and defend yourself against trained killers with a selection of weapons that didn't come from the local gun store.

</sarcasm>

Western countries overspent, under taxed and borrowed to fill the gap for decades

What are you on about? I pay more than 60% tax on my personal income. Governement take 25% VAT on prices to consumers. Up until the financial "crisis" hit, we had ZERO dept to other countries.

I live in a western country. the countries next to ours (Norway, Germany, Sweden) were more or less afaik, in the same situation.

What countries are you referring to? Greece? Spain? Italy? US? Each country has their own problems and reasons for their financial problems.

In the US we have to quit looking for the quick fix. We need to
1. Pull back on subsidies on oil and gas and food.
2. Keep defense where it is now. We spend 5 times more than the next country.
3.Cut back on foreign aid by 50%
4. Inflate our economy to a 5% growth rate
5. Flat Tax both corporate and personal so that everything over 20k is taxed.
6. Balanced Budget amendment.
7. No new spending with out cutting existing programs
8. No tax cuts with out spending cuts.

http://www.gfmag.com/tools/global-da...#axzz294NR2Xeb

http://en.wikipedia.org/wiki/List_of...ount_balanc e

http://upload.wikimedia.org/wikipedi...nt_Balance.png

If your country isn't on that list, your country played it right. Maybe your country played it right with high taxes and no borrowing. So a great example. Thank you for posting and I should of said

Many Western countries overspent, under taxed and borrowed to fill the gap for decades.

Yours by no means under taxed.

Correction: Governments from the Western countries overspent, under taxed and borrowed to fill the gap for decades.

Now the people is called to pay the bill.

It is pretty easy to talk about numbers and talk about people lives as simple numbers ignoring the suffering of having no job and no food on the table. Suicide rates is rising, violent crime is rising and the fuck faces who managed to spend the money just left the building with a get out of jail free card and the new ones will destroy the rest of the economy with nonsense austerity measures.

Soon the EU peripheral countries will be the new China, people will work almost for free if they want to put food on the table. :2 cents:

Tax forum posts and pay the unemployed to moderate.

Are you ready for the pain these measures will bring?

And you voted for them and enjoyed the extra income.

Now I ask again. Are you ready for the pain?

http://www.gfmag.com/tools/global-da...#axzz294NR2Xeb

Look at Denmark, so yea, as I said, up until the crisis - everything was fine. Our unemployment rate is around the same level as it was around 2002-4 or something like that. But I still hear people screaming CRISIS here every day. It's not crisis, it's just back to a more "normal" level. But wtf do I know, I had one year of business economy at the university haha

Btw looking at that list, I should move to Norway lol. And pay like $6 for a can of soda :1orglaugh

Yes Denmark is an example of how to run an economy. And I do not include it in the list of Western Countries. Still have they were or are selling to countries in massive debt. The problem infects them as did the extra borrowing.

Many are saying "This has nothing to do with me." Yet showing that illustration it has a lot to do with all of us.

People who sold porn memberships to countries with economies bloated by the borrowing or to people whose income relied on it. Were all feeding off the borrowing.

Saying "It wasn't me." is a weak reply. We all fed off of it and we're all going to have to pay for it.

Wrong forum.

Mods please move this thread to this idiots' subforum.

Doesn't matter who is ready for the pain because what needs to be done will never be done. They are going to drive the car off a cliff at full speed while the people foolishly argue about changing the hood ornament.

that is actually very true. Reading between the lines, I would say your spot on

Always ready ...

I agree.

The problem is no one will accept the simple fact that too many economies are run on Government borrowing.

"The Government spent the money." As if it never spread around the countries that borrowed.

"We never were borrowing." But you did sell to countries that were buying with borrowed money.

Don`t forget to exterminate the FED. It is the biggest scam in history and you Americans are paying intererst over every fucking dollar out there! That way you will never get out of debt. It`s just impossible to get out of debt when every new dollar means new debt...

Are you talking about printing or borrowing more money?

a bit of pain..

Many countries are borrowing or printing money because they can't risk telling them the truth. Their economy will slump without the infusion of money.

When the infusion slows down the results are always the same. A massive loss of jobs, higher costs and more debt. Reading most of the posts here you see denial or short term greed.

I think it was Robbie who put it best. If his family are stacking up debts he cuts the spending. Now that is what some are saying is the right way forward. So let's look at iit as a family.

Move to a smaller house.
Drive a smaller more fuel efficient car or don't buy a new one.
Cheaper appliances or get more out of them, don't buy any.
Sack the gardener.
Quit membership of the golf, gym or any club.
Pull the kids out of Private school.
Turn the heating down.
Miss out on holidays.
Don't eat out.
Buy cheaper and less food.
Make do with last years clothing.
Work a lot harder.
Get a second job if you can.

Basically you spend less and become less of a customer in your area. Think this through now to a national level or even your entire community and the devastation it causes.

No President or Government can fix the problems in 4-5 years. To attempt it will bring about the Second Great Depression. Because our world is wrapped up in consumerism of cheap items, economies growth, all supported by debt.

Anyone who dreams Romney or Obama can fix this in 4 years or thinks it will be an easy painless fix. Shouldn't be allowed to vote.

Oil and commerce is no longer paid for by the global standard dollar in an increasing amount of countries.
The deals are with the Chinese and in their denominations ...by design.

The dollar is already dead.
It will take 6 to 8 months from now until the dollar will come back worthless.

It just takes a while for worthless printed federal reserve "notes" to come back... 6 to 8 months :2 cents:

Yes. Reading the thread about unemployment rates and seeing all those who think more drilling in the US will solve the problem showed how some are grasping for a magic solution. The problem started with the exporting of wealth to the Third World, bright move that was. Didn't they realise it was already costing the West jobs by factories opening up with cheap sweat labour?

With the West as a consumer China has gone from hardly being able to feed itself to a country that has the second largest economy in the world. It will be #1 soon.

Minte's largest order for his oil filter system came from Vietnam. :Oh crap

Yet some think cutting benefits will fix everything. :upsidedow :upsidedow :upsidedow