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-----Original Message----- From: [email protected] [mailto:[email protected]] On Behalf Of pete Sent: Tuesday, July 05, 2011 1:13 PM To: [email protected] Subject: Re: [Futurework] Credit-crunch II still awaits On Sat, 2 Jul 2011, Keith Hudson wrote: > How can Western governments -- with few exceptions -- possibly pay > off their growing government debts from taxation? They'll only be > able to do so by means of substantial assets sales. Well, no. As the post here last week pointed out "Americans have a loopy attitude towards taxation", or words to that effect. Sorry I don't have it archived, but the article continued that if americans taxed at the rate Canada does, they would have no deficit/debt problem. That applies to Greece, and the other european problem countries as well. Insane debt levels are pretty much directly the result of the kleptocracy absconding with the political system to enshrine their exemption from contributing their share to the maintenance of society. If they keep it up, they're eventually going to end their days viewing the world from the top of pikes. As things get wonkier and wonkier, the potential for the final stupid act of selfishness which wakes the sad abused mob of the disenfanchised to their true situation increases toward certainty. It may yet be decades away, though, so as usual the kleptocrats figure they can keep the shell game going til they're safely dead, and posterity be (truly, literally, inescapably) damned. -Pete _______________________________________________ Futurework mailing list [email protected] https://lists.uwaterloo.ca/mailman/listinfo/futurework _______________________________________________ Futurework mailing list [email protected] https://lists.uwaterloo.ca/mailman/listinfo/futurework
