CITYBLOGGER..PENAFIAN Laman ini tidak bertanggungjawab atas hasil penulisan yang dipetik dari sumbe

The PIIGS will drag the Euro down to par with the US dollar within a year! The price of your BMWs, French wines and cheeses is going to skyrocket.Like Soviet style socialism twenty years ago, western style capitalism is going down the toilet. First world countries have maxed out on the debt they used to prop up an unsustainable system, and it's coming down around our ears.

The fat lady is singing.It is not just Portugal, most Western European and North American countries are all having similar problems. Debt is a symptom of the problem. The "cost of production" (COP) measures an economy's ability to compete in the global marketplace. COP includes food, housing, pensions, education, debt service, government overhead, etc.

The current standard for competitive COP is set by China and India. In these very low wage locations, the COP is about $10 per worker per week. Both of these countries have a competitive advantage over Western cultures since China (Communism) and India (Caste System), need not concern themselves with worker rights or needs.

If a location does not compare to these levels of COP, then commerce relocates, and debt results.