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Worse off than Greece?
Old 05-15-2016, 09:00 AM   #1
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Worse off than Greece?

Apparently we are worse of than Greece in at least on respect:

Worse Than Greece — Jonathan Clements

Quote:
Thanks to widespread homeownership and an aversion to debt, the typical household net worth in Spain, Italy and Greece is higher than in the U.S. or Germany.
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Old 05-15-2016, 09:34 AM   #2
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My experience in Italy, and probably the same with Greece and Spain is that many families live in the same homes they've owned for several generations. That could account for the widespread home ownership/no mortgage. Aversion to debt is something US citizens could use more of. Although I don't necessarily consider a mortgage debt. It depends on how you use it.
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Old 05-15-2016, 11:50 AM   #3
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Once I took a few French classes and got good grades. Then went to France thinking I was almost a French man . Thank goodness many French can speak English. No way would I be able to live there. I have to face it, I'm an American for better or worse.

So why worry about how well we are off compared to those other countries? We aren't likely going to move there. Visited Italy for the 2nd time last year and enjoyed the visit ... but live there? No way. It sure didn't feel like they were necessarily better off.

I guess this type of comparison might influence how we vote. As for me, I am able to live a good life here. Every time we go to Europe we come back appreciating more what we have here. No way to judge how things would have been different in those other countries for me had I grown up there.
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Old 05-21-2016, 07:15 AM   #4
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One of the reasons Greece got in trouble was that people did not pay taxes. Which ofcourse is a simple way to increase your net worth.
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Old 05-21-2016, 11:49 AM   #5
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Everyone in Europe does pay taxes every time they buy anything--with a 15% VAT. If you had to depend on them to file an income tax return, most citizens wouldn't do it.

We were in Greece two weeks ago, and ran into a big demonstration against a pending drop in pension payments. Greek pensions were never self sustaining and retirees were given too generous pensions and entitlements. I wouldn't be surprised if it's a common problem in the EU.

The influx of displaced Syrians and Northern Africans is a serious, serious problem to all EU countries. The populations of many countries cannot sustain increased heads--and the entitlements they require. These people will crowd into lower income parts of cities and essentially replace the locals without any attempt to assimulate themselves into the local society. It's not like families are coming in--but young adult men without job skills.

The economies of Greece and Turkey are completely tourist oriented since they have so few factories producing hard items. Store keepers are experiencing sales drop 65% to 75% since so many tourists have cancelled their vacations. Store keepers are facing bankruptcies, and their suppliers are requiring COD terms. Things are not good.
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Old 05-21-2016, 12:22 PM   #6
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We were planning a trip to Greece last year but cancelled because of the EU/Greece troubles. Went to Italy (central and southern) instead. Saw many refugees on the streets in Italy. They were not yet a problem in the summer of 2015. Well, a few were obnoxious but not in a dangerous way.

There are a lot of thefts of personal items over there. Especially in places like Rome.

It is easy to imagine huge problems with the refugee influx in 2016. We are doing domestic trips this year. A lot easier and more relaxing in many ways.
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Old 05-21-2016, 12:32 PM   #7
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Quote:
Originally Posted by Lsbcal View Post
We were planning a trip to Greece last year but cancelled because of the EU/Greece troubles. Went to Italy (central and southern) instead. Saw many refugees on the streets in Italy. They were not yet a problem in the summer of 2015. Well, a few were obnoxious but not in a dangerous way.

There are a lot of thefts of personal items over there. Especially in places like Rome.

It is easy to imagine huge problems with the refugee influx in 2016. We are doing domestic trips this year. A lot easier and more relaxing in many ways.
I'm thinking of taking taxi at Rome vs shuttle to avoid pick pocketing problem. I'm sure we save money taking public transportation but if you lose money then it comes out even.
I was think of going to Greece to take advantage of the low price and such but decide it's too risky. I would love to get a beach front property in some Greek Islands.
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Old 05-21-2016, 04:16 PM   #8
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I clicked on this thread thinking it was going to be about Venezuela.
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