It will not take 2 decades. They are killing Cyprus in 10 days (800.000 people 18 bil. GDP, 0.2% of Eurozone). In Greece 3 years ago before TROICA the debt was 120% of the GDP. After haircut, after bail outs, after another haircut, after cuts in the salaries after huge increase of taxies,after thousands of closed shops and huge increase of unemployment (30%), the dept is almost 170% of the GDP. But of course they forgot that the GDP went down almost 25% the last 4 years. So there are no bail outs. Who knows what will happen to Europe in 1 year. Who knows what will happen if Cyprus (remind you 0.2% of Eurozone) gets out of EURO. And there are countries in Europe with big problems. I am not talking about Greece, Cyprus, Spain, Portugal, Italy, Bulgaria, Romania. Countries like France, Belgium, Holland, UK and of course Germany.
Here in America we just had .4% growth for the last quarter and the media is acting like this was fantastic news because it wasn't negative. frankly I think the books were cooked because if we start showing an depression state of the economy as opposed to the recession they keep telling us is improving then all hell will brake loose.
I sure hope your wrong but your analysis of the greek debt to gdp is spot on for sure. To be perfectly honest the only reason I said 2 decades was because that will bring us just over 100 years since the last great global depression. Only this time I do not think we will come out of it again.
Man kinds great strides towards freedom will end in the chaos that will ensue. The heavy hand of government will be back with a vengence.