> Just note a pattern. There are some countries that were spending more than they have, and those countries are in big problems.
Italy has had a massive government debt for the last 30 years, and has not changed much. And very little private debt.
Spain has had a lot of private debt only lately, but a very low public debt.
Greece _cooked the books_.
Netherlands have one of the highest mortgage debt in the world and a resounding AAA rating.
What's the pattern here?
Oversimplification and overgeneralization is always wrong for everyone.
Italy has had a massive government debt for the last 30 years, and has not changed much. And very little private debt. Spain has had a lot of private debt only lately, but a very low public debt. Greece _cooked the books_. Netherlands have one of the highest mortgage debt in the world and a resounding AAA rating.
What's the pattern here?
Oversimplification and overgeneralization is always wrong for everyone.