Brutal data on a Western debt march

The simplistic answer is for all the western economies to forgive the debt, the consequences of this are in the uncharted territory of the unknown, and is probably the closest aligned policy answer of the western socialist ideology of spending other peoples monay until it is gone (Brutal data on a Western debt march, February 19).

Once again the solution to our debt problems is to slash government and social services (Brutal data on a Western debt march, February 13). Why do we disregard an increase in taxes, particularly, those imposed on large business? The standard retort is that if we increase tax on large corporations, then they will leave our shores for a lower-tax refuge.
Basically, our governments and their citizenry are held to ransom by large corporations who pay less than enough taxes. Leaving governments underfunded and transnational corporations awash with cash sufficient to foster revolving asset bubbles and a highly remunerated elite.
Over time nations become bankrupted and democracies become destabilised. Its been the formula in the developing world for decades, but now its become a First World phenomena as well.
The solution will include a global agreement on transnational taxation. Until then, the public debt swells and we take a hatchet to society's weakest economic participants because we lack the intellect and the fortitude to challenge the strongest.

The whole model falls down when comparing a state to a corporation. States gain revenue from taxing transactions and incomes of their citizens, not from selling a good or service (Brutal data on a Western debt march, February 13).
The state can both generate employment and use that employment to increase efficiency of its people. This can be as the right would prefer at zero investment cost through tax concessions for wealth creation (tax breaks on business by geography or industry) or as the left prefers through building of infrastructure (social or actual) to be an artery of commerce.
Either approach doesn't have to cost a fortune and are very different from how a company creates revnue.
Are states overspending in the wrong area? Yes. Do they have too much debt? Yes.
It appears the banks have forgotten the lessons of structurally adjusted lending. States are not like companies and shouldn't be treated as such. It only ends in tears.

Probably the best description of the disaster we're plunging headlong toward I've seen for years. But how do we avoid it, or at least survive it? (Brutal data on a Western debt march, February 13.)

I wonder what Australias position is and remembering what this article says about the continual debasement of our money by printing more money, can anyone tell me how the super funds can protect themselves from this fundamental universal problem and if future ALP & Liberal governments started raising super profits taxes on all corporations? (Brutal data on a Western debt march, February 13.)

To lower our currency value is to lower our living standards - something westerners will fight tooth and nail to maintain. What happens when our currency values fall: do we just accept it, or do we increase the price of everything we export to keep our show going as we know it? (Brutal data on a Western debt march, February 13.)
I remember when Italy's Lira was the butt of all jokes, where you needed like 10,000 Lira for a loaf of bread. So, how did that make Italy's products cost competitive? It didn't! A Ferrari was always expensive to buy, even when sold in Liras! So what's your poison: high currency and low rates, or vice versa?
Thanks for the great article!

I suggest you all read (The Creature From Jekyl Island) and then you will fully understand why, and for who's benefit this money printing scandal is occurring (Brutal data on a Western debt march, February 13).

Reality dawns on the steriod infused financial/political class but when will those on the public teat act (Brutal data on a Western debt march, February 13).

Great article. I read the Morgan Stanley article, available through google, not that depressing, their research indicates at present that utilities should be good investments (Brutal data on a Western debt march, February 12).
Australia faces also aging demographics, competing with cheaper services available worldwide on the internet, and the resistance of the population to decreases in Government services and spending. It's unsustainable; the recent (since 1945) Governments in Developed economies 'taxing 25-50% of the economy and redistributing it model' will fail within decades.
We could do well if we reduce Government spending and redistribution, over time to to say 15% GDP, this could be sustainable for 100s years if kept stable. But who in Australia would accept this ?- probably seen as a mad idea.

As most the western debt is the result of socialist governments (big spending), it confirms the old adage "the worst thing about socialism is that eventually they run out of other peoples' money" (Brutal data on a Western debt march, February 13).

Neither the article nor the MS research note it is based on deserve to be taken remotely seriously. This is not to suggest that the countries examined don't have serious fiscal issues to address, but making a point estimate of net government debt in 2050 is a mug's game. The very fact that the estimates are unsustainable tells you that the assumptions on tax and spending will not hold (Brutal data on a Western debt march, February 13).
Governments are not corporates as already observed BTL. Most pertinently their current welfare and other spending policies do not constitute liabilities; they are (in general) not contractually obliged to deliver them indefinitely at the present level. Similarly they have the power to raise additional lax revenues as they need to; politics may inhibit them doing this at times, but over the long term and with real growth, bracket creep and loophole closing provide unobtrusive ways for tax take to drift up. For sure higher taxes/lower spending, where poorly targeted, can be counterproductive. Mr Hartwich is manifestly a small government advocate; he has better arguments to hand than scaremongering based on nonsense numbers.

Whilst the music's still playing, I'll keep dancing...(Brutal data on a Western debt march, February 13).

Elimination of the hundreds of billions of taxpayer's dollars on 'Defence' and hundreds of billions of additional dollars on the various forms of Corporate Welfare EACH AND EVERY YEAR, would surely ease if not eliminate " ... the West’s economic malaise in over-indebted and over-committed governments." (Brutal data on a Western debt march, February 13.)
The idea(ology) of a Free Market is a joke, when all the giant trans-national corporations can be seen lined up like squeeling piglets at the sow's (government's) teats!

"The solution will include a global agreement..." (Brutal data on a Western debt march, February 13.)
" And the second is like it: 'Love your neighbor as yourself.' "
"If there is to be peace in the world, There must be peace in the nations.
If there is to be peace in the nations, There must be peace in the cities.
If there is to be peace in the cities, There must be peace between neighbors.
If there is to be peace between neighbors, There must be peace in the home.
If there is to be peace in the home, There must be peace in the heart."
(no need 4 attribution).
It is SO easy That's why we have already done it!