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their problems are far far deeper than America's. Not only are their banks TWICE as indebted as American banks and their economies much more dependent on bank lending than the American economy, but their structural problems are intractable........ie the people REFUSE to accept any reforms that might inflict short term pain. The majority of the people over there are playing a game of chicken with their governments. Everybody knows the path they are on is unsustainable, but a lot of the baby boomers over there are betting that they can hold out and enjoy their benefits long enough to die first before their countries are pushed into bankruptcy....its not that they don't realize what is happening or what it will mean for the future of their countries. Its just all about them.
To add to their higher debts than America, lower growth than America for a generation and lesser wealth on average than Americans, the ticking of their demographic time bomb is growing ever louder. The baby boomers over there are starting to retire in droves (the percentage of 50-somethings who work in Europe is VASTLY lower than in America.....indeed many of them have the right to retire in their 50's with full pensions). Here's the real catch: the generation coming up behind them is nowhere near big enough to replace them, because they couldn't be bothered to have kids in the last 30 years. Who's going to pay for those pensions and that "free" healthcare? The ever growing Muslim population they are importing from the Middle East to take the place of the kids they never had? LOLOLOLOL!!!!! Riiiiiiiiight. They aren't interested in integrating. Indeed they are actively hostile to Western Civilization. Their education is lacking and their rates of unemployment are massive. Far from being the mindless drones the Yurp elites had in mind who would dutifully get up and go to work every morning in order to pay for the promised benefits of wrinkly old Yurps, they have something very different in mind.......Eurabia. They are content to sit back, gobble up ever more public benefits rather than paying into the system, outbreed the Yurps and continue to bring over ever more and just wait for the day when they will take over. Its obviously happening in slow motion already.
Europe is finished. Its time for America to pull out now lest we be dragged into yet another war on their behalf. The American people have sacrificed far too much of their blood and treasure in the last century to try to fix Europe's problems already. They are bent on self destruction one way or the other. This time.......let them go.
