Mark my words…Europe is up sh*t’s creek. Western Europe is starting to buckle under the weight of an aging population, a declining birth rate and a surging number of immigrants.
The fat part of Europe’s population bell curve is transitioning from productive worker-bee status (European Baby Boomers) into government-sponsored retirement.
Birth rates in most Western European nations are not sufficient to replace/support the bulging retirement class. And the ongoing/ massive inflow of poverty-stricken immigrants (living off the public dole) will continue to exacerbate the problem. Remind you of anyone????
I have seen many pundits scoff at the problems posed by Greece. Scoff at your own risk. Greece’s problems (spending way beyond its means to support failed public programs at the expense of legitimate, private growth) are prevalent throughout Western Europe.
Greece is the tip of the iceberg. Yes, Portugal, Ireland, Italy and Spain might not ring alarm bells. But, England should. And, the US avoids such scrutiny (for now) only because of its current perch atop the global debt stack.