China, Greece, and Puerto Rico may be sickly but not yet contagious according to the article (click web address below) but the reality is China's stocks are down 20%, Puerto Rico is $72 billion in debt, and Wall Street futures are down 1.5%. It is only our country's work machine that keeps us from collapsing financially but if that keeps decreasing we edge more toward Greece and then watch when that happens. Our government will start stealing our 401ks and IRAs to buy worthless government bonds or swapping for worthless government backed stocks to swap out the nation's debt. There is always a fall guy and that fall guy is always us. The fact is 2+2 has to equal 4. If you say 2+1 = 4, then someone or something has to make up the 1 difference and that's always us, the people.
http://blogs.wsj.com/economics/2015...nd-puerto-rico-sickly-but-not-yet-contagious/
On The Factor last night:
Debt Crisis
Greece has defaulted on its debt, sending a financial shiver through world markets, while Puerto Rico announced that it cannot repay $72-billion owed to its creditors. Fox Business host John Stossel contended that no one should be surprised. "Puerto Rico and Greece spend money on the same stuff we do," he said, "but they don't have an economy that can carry it. They have a lot of government workers, all kinds of programs, and they own corporations that lose money. Greece has crippled its economy with work rules - you can't fire anybody, and in some jobs you retire at age 50." The Factor pointed out that Greek fiscal math is fundamentally flawed, saying, "Greece has a lot of entitlements and they don't enforce their tax laws."
http://blogs.wsj.com/economics/2015...nd-puerto-rico-sickly-but-not-yet-contagious/
On The Factor last night:
Debt Crisis
Greece has defaulted on its debt, sending a financial shiver through world markets, while Puerto Rico announced that it cannot repay $72-billion owed to its creditors. Fox Business host John Stossel contended that no one should be surprised. "Puerto Rico and Greece spend money on the same stuff we do," he said, "but they don't have an economy that can carry it. They have a lot of government workers, all kinds of programs, and they own corporations that lose money. Greece has crippled its economy with work rules - you can't fire anybody, and in some jobs you retire at age 50." The Factor pointed out that Greek fiscal math is fundamentally flawed, saying, "Greece has a lot of entitlements and they don't enforce their tax laws."
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