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<p>[QUOTE=&quot;Cloudsweeper99, post: 1203599, member: 3011&quot;]Yes. [getting up on soapbox].&nbsp; The crisis in the eurozone isn&#039;t ultimately an economic one.&nbsp; It is a political power struggle.&nbsp; The banks want people to sacrifice and suffer to avoid having to write down loan values, and many high ranking politicians side with the banks.&nbsp; My own personal opinion is that people should not be made to suffer for the sake of the banks.&nbsp; The risk of default is inherent in any lending process.&nbsp; In Iceland, the people voted multiple times to default on the debt rather than suffer a closure of schools and hospitals to save the bonuses of the London bankers.&nbsp; Now, Iceland&#039;s economy is growing again.&nbsp; This is a pure power struggle that bears watching.&nbsp; Eventually, the US will be faced with the same decision - default or perpetual destruction of our standard of living to preserve the profits of the banks by servicing a level of debt that can never be paid down.&nbsp; You are going to hear a lot of rhetoric about &quot;American will never default&quot; and horror stories about all sorts of dire consequences if the debt is not serviced.&nbsp; Everyone needs to watch and understand this and get beyond the superficial remarks about Greeks and others wanting something for nothing.&nbsp; This is an existential world struggle that will decide the fate of the world&#039;s middle class for the next 100 years - so be careful in how you take sides because the lives of your children and grandchildren are at stake.&nbsp; This may turn out to be the most important issue of the early 21st century. [getting off of soapbox to get some coffee <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" />][/QUOTE]</p><p><br /></p>

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