Tuesday, June 29, 2010

Debt Crisis: A summary.

Found the snippet below in the comment section on the Economist website, here, and for my money, it doesn't get much more succinct than this.  Also consider that the words "retiring population" could be substituted for many other counter parties:  municipal debt holders, union pensions, government employees, to name a few.  Also, to make the sentiment a bit more poignant, may I point out that "their own governments" should actually read, "their own tax pool."  In this way you can see that those who can't pay are actually the Worker times two.  Doesn't make the welfare pig look very good when painted in that light, huh?  Make sure to take a minute to read the underlying article, too.