Most European governments and the U.S. Government have “fallen prey” to expensive foreign money, are in unrepayable debt situations and borrowing more money to offset interest charges and over 100% Debt-to-GDP ratios, to their citizen’s ‘austerity’ costs – or am I misreading the news?
“Fallen prey” is a mislabling, given the revolving door between Wall Street and the U.S. Gummint and I have been reading news from at least two thousand years ago: this is not the first time:
“Meanwhile a powerful host of accusers fell with sudden fury on that class which systematically increased its wealth by usury in defiance of a law passed by Caesar the Dictator defining the terms of lending money and of holding estates in Italy, a law long obsolete because the public good is sacrificed to private interest”.
– Publius Gaius Cornelius Tacitus, The Annals of Rome AD 27.
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