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Lionel Leigo

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How to pay it all back?

The national debt of many countries has risen to astronomical levels, with debt to GDP percentages rising ever higher, can it ever be paid back?, if so, how?

Is there other ways out of this monstrous debt?

I , personally feel that a first step should be the prevention of printing more paper currency, and the people having a say in the decision making process.

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  • Mar 8 2013: Ok, some great comments here.

    I understand that if this finance is ever going to be paid back, then future generations will be severly affected, this means that my children (and theirs) may become enslaved in the country of their forefathers. (to be dramatic)

    Should we be looking for the solution to end this debt roller-coaster in our lifetime ?(next 50 years), or is that just not possible?

    Is there a solution?, or are we sooo deep, that the only way out is that there isnt a way out?

    I understand that as individuals choose, this is their choice, credit, loans, borrowing en masse. But is there a viable alternative to keeping this inflated lifestyle/standard of living to which we have become so addictively accustomed ?, or Does it all have to go, end, shut it down?,

    The other part is---------------- Where did all the borrowed money come from?------
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      Mar 8 2013: " Where did all the borrowed money come from?"

      it is less important where the money comes from. money in today's world can be created at will. it is just playing with numbers. what we need to care about is stuff. new money buys stuff, so the "winners" in the money creation game also gain stuff. not as much, but some. probably not a perfect measure, but maybe this map gives you a hint:
      http://en.wikipedia.org/wiki/Current_account

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