Hello!
It occurred to me today that a countries sovereign debt issues are just a reflection of it's peoples debt issues. The issue is really down to a poor financial education. With improved financial literacy people would see how much better their lives would be with less debt load. This would improve everyone's prosperity and in turn create the environment for real growth.
The level of soverign debt in a country is simply the level that it's inhabitants will tolerate. This is completely borne out by the people of Iceland who would not tolerate the crippling debt conditions their country was under and took poweful and successful action to change their consitution to ensure that the situation could never be repeated.
The bottom line is that we all have a tolerance level, mainly set by experience and education. Improving literacy in problem areas often has a dramatic effect on future outcomes, sometimes much more dramatic than first envisioned.
Let's make 2012 the year to end the termoil caused by a poor financial education and become the guiding light to a prosperious future.
Happy New Year!
Two side is what i see on this aspect. Simply as good or bad.
Posted by: visalia self storage | February 08, 2012 at 02:29 PM