Quote:
Originally Posted by ADL Colin
I am pretty sure that Italy and Japan have more debt relative to their GDP than the US. Also if I remember correctly the US debt to GDP ratio is about average for the G7 countries. been a few years since I looked it up.
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difference is that Italian and Japanese people don't have so much personal debt as the American people + they have strong social structures (health care, ...) which prevent people from falling into poverty, it's those same structures that enable Europe to only need 2% growth a year instead of the US's 5% to be healthy