The EUROZONE credit problems of Greece, Italy, Portugal, Ireland and perhaps Spain, have attracted the attentions of the World, including the USA and in particular STANDARD & POOR'S. However, the USA also has serious credit problems of its own.
On French Television last night we watched a documentary report on the consequences of the "bankruptcies" of certain towns and cities, such as DETROIT and JEFFERSON in ALABAMA. Make no mistake, the people in these and other towns are hurting. They have been abandoned and do not know where to turn for help.
What we saw was;
- Complete streets abandoned,
- Houses on fire,
- Security and police protection drastically reduced,
- Pensions not paid,
- Public employees not paid or sacked.
The whole situation presented was eerie, frightening. It was certainly not what the entire world imagines the USA is like. For those people facing the crisis, and to coin a phrase, the living STANDARDS are POOR !!! They have been abandoned.
The USA has Social Protection and so has the EU, i.e. Europe. In Europe the different systems are called Social Security. We do not yet have the extreme problems like those we saw on the television last night ! The Eurozone Politicians have not yet solved the growing crisis but their approach is different from that in the USA.
To come to your own conclusions, you too can watch this Television Documentary on FRANCE 2.FR "Envoyé Special" dated 24 November 2011.
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