All the crap that people bitch about and this one is NO where to be found……of course, a couple politicos have compared the US to Greece, most notably some on the pseudo-news channel that shall remain un-named…..my problem is that Europe and its problems will eventually come to our shores and roost and yet neither candidate has mentioned except in passing and saying one candidate sucks…….maybe these dorks need to tell the American people what is awaiting the US…….

But it does matter….even if you ignore it…..it still matters….and why is that?

AP has a beautiful explanation——-

Europe buys 22 percent of the goods America exports. U.S. companies have invested heavily in Europe. So any economic slowdown in Europe dents U.S. exports and corporate profits. But the biggest fear is that a European financial crisis will flare up and move west across the Atlantic — the way Wall Street’s 2008 crisis moved east to Europe — with dire consequences for the U.S. economy.

Europeans are struggling to repair a system that was flawed from the start. The euro, introduced in 1999, makes it easier to do business across Europe; no more changing francs to deutschemarks when French and German companies do business. But the common currency joined countries with vastly different economies and political cultures — and each got to keep running its own budget. During the 2000s, banks were willing to overlook the differences and lend at low rates to countries like Greece with dubious records of fiscal discipline. Lenders knew they’d be repaid in euros, not local currencies that could be devalued by inflation. Greece and other countries took advantage of the easy money. Their debts proved crushing after the recession hit.

To fix their finances, European countries have cut government spending and raised taxes. Greece, Portugal and Ireland had to tighten their belts to qualify for bailouts. But the austerity has taken a toll. Europe is sliding into recession. The pressure might force Greece to abandon the euro and revive its old currency, the drachma. Other countries — notably Italy and Spain — might follow Greece out of the eurozone.

Abandoning the euro would free countries from an economic straitjacket. When they joined the eurozone, they surrendered control of interest rates to the European Central Bank, so they cannot cut their own rates to boost their economies. Nor can they push down their currencies to give their exporters a price advantage and trade their way out of trouble.

But breaking up the eurozone would be dangerous. Borrowers in countries that left the eurozone would struggle to produce enough money in their weak local currencies to repay old debts denominated in much stronger euros. As debts soured, Europe’s banking system would freeze. Its economy would follow. The pain would spread. Worried about a crackup, investors are demanding higher rates on Italian and Spanish debt, driving those countries’ borrowing costs to unsustainable levels.

The Euro-Zone problems are our problems…..we will suffer as much as the countries of the EU if the wall cracks and falls in the economy’s lap….but yet it is not important enough for either candidate to try to explain the situation to the American people……