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-- next guest says the United States absolves.
Me in particular.
-- -- like those Europeans.
Stephen it was -- These people some of the volatility of the title Europe's performance why the European way is the best hope in an insecure age He joins us from San Francisco -- Are you look I'm not ridiculous -- serious human wanna make calls more like that the bankrupt.
Well certainly in certain ways I think we could learn a lot from Europe on while a lot of what's going on right now what's roiling the markets that those happen.
To Europeans like if something from the gods on high.
For the average European data they don't pay much attention these things but they have that we don't have is things like health care.
You know I mean everyone in Greece right now still has health care that despite the probably broke wants to keep that going broke they can afford all these wonderful social benefits -- the boat to themselves they can't afford it.
Now that when you say day it is just not true I mean there are many countries in Europe right now that are actually doing quite well.
You know you look at a country like Germany Sweden.
France even you know many many countries Poland is doing remarked we -- protect Poland never went into recession during this economic collapse that we experienced the United States so.
But you can't just -- it would abroad should struck as you try and -- or what what -- said.
-- -- -- No way in Europe.
Can they actually a full and all the social services which they voted for.
Bearing in mind the demographic shift towards an older population and they small population.
Not all of them gonna fly it is simply not true -- has a was a huge budget deficit it's enormous its fall 5% of GDP.
And you can list the countries Spain Italy Portugal Greece.
Island not all of them none of them all auto anywhere close to avoiding bankruptcy that all -- deep trouble.
You can't afford -- put this statement that they have less of a debt thing we have in the United States right now and they don't come along numbers what you think if 5%.
But there's no there's no economic.
Data are researcher experts out there that that -- or consent so what the amount of debt needs to be.
Some say it shouldn't be any higher than 90% of debt to to GDP ratio.
Others say other numbers the fact is that for the average person.
Even in Greece right now they have health care fifty million Americans in this country -- not have a health -- upon and it's all been withdrawn Steven -- let let's let's talk about groups that that off -- -- that backs that economy you know I attracting and so I think there's a -- benefited us Robin is supposedly what our choice and are being taken off them.
Back is reality.
Greece is less than 2% of Europeans the European.
So focusing on Greece is the problem that's what the markets are tending to do but if you look at countries like Germany Germany -- 6% unemployment we have over 9% unemployment.
An end here -- have they have fortune 500 companies that are doing remarkably well.
In fact Europe has more fortune 500 companies.
The United States and China combined OK so what you want to see is He is I don't know you'll full Oklahoma I -- I -- -- -- drop -- but I'm trying to get this in here you'll fully tumbled with president Obama's plan to make bonds more like event.
You want socialized health I didn't find it has more like them He said He does He said if you want socialized medicine in the United States healthcare for everybody right.
Apparently and I don't expect that's one of the miss here is that we do not as France Germany Switzerland do not have socialized medicine.
They did not have what we what you're calling socialized medicine single Payer they actually have a third way that doesn't get discussed very much United States they have.
For example the German.
Health care system.
The backbone of that system is 200 price the insurance companies they do not have government owned and run health care.
But the difference is is that those private insurance companies are all nonprofits and when you look at the real difference is is not whether you have government owned or not or privatized or not.
It's whether you have for profit health -- or nonprofit health -- what when you have to nonprofit health -- you don't have the incentives to Jack up the rates again like with -- of Americans on a -- based on your they've -- on the table so far is all about health -- OK let's let's get beyond -- for a second what would you do in Europe right now because they are deep.
Deep into a financial crisis what would that do what would you do.
But you I think and other things that United States that we could look at that for now you don't usually the -- of the millions and needn't.
What what should the -- is in political.
It that -- get -- also let me give you one example -- what should they do in Germany why they have no boardwalk they should do what should the Europeans do.
Due to fix that financial problems tell me.
I'm getting at gimme a minute.
I can tell you one of the things they have.
What what are they have -- -- things they have in Germany.
For fortune 500 companies is they have worker elected boards of directors off the workers in -- seen a simple question the -- -- I've got I've got a we have to elect you can get it and as members of the board of directors.
OK well I'm just trying to give you some examples of the types of things are working with like -- moment of how they should deal with -- financial crisis never run out of money that deeply in debt and you've not told me how they should get out of this crisis tell me you tell -- -- tell me.
They should do it slowly carefully patiently because these sorts of things what they're trying to decide how united they want to be as a continent takes decades in the United States instead of you know I don't really just leads to that is either they haven't got decades that we they've got -- -- But no they don't they actually done -- done it this is not this this is not the crisis that you're thinking it is it.
-- in the United States.
United States fought a -- -- civil war seven that you don't regard this is not a crisis I think it is.
But it's dominated the headlines for months.
-- -- bright.
I don't countless meetings top honchos backwoods of bullets issuing press statements that.
He you can't tell me that this is not a crisis you can't -- -- it is a crisis but Europe is in the process of trying to figure out how united wants to be.
And these things take very long time many United States it took decades we fought a civil war seven years after our foundation -- states' rights because we still were comfortable the idea of central government.
Federal government and we still have those issues today so these issues never go away this crisis is not going to go away overnight.
Europe has been kicking the can down the road quite successfully I might add.
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