Quote from Ghost of Cutten:
If you look at Sweden from the 1970s to present day, they had an economically unsustainable approach, but it took a blow up in the early 90s (after 20 years of idiotic policy) for them to get the guts to reform and get back on track with more pro-market positions and sensible government spending, they overrode the vested interests for the greater good of society. The USA has not yet hit its puke point, because the suffering has not been great enough to force change. It is quite incredible that here in 2012, they still haven't learned the lesson (Europe too) of the 2008 crisis. But that's humans for you - most of them, at least on a group level, do not learn from the first mistake. It takes years, even a decade or two of whacking them over the head with a hammer of mistakes, before they start to realise where the pain is coming from, let alone how to deal with it. See Japan, or 1930s Western democracies. So, IMO it will take further pain before they wake up and realise hard decisions need to be taken sooner to result in a better long-run outcome. Boomer pensioner tears, just like billionaire Republican tears, are just going to have to flow, sucks to be them I guess.
