Comments by "David Himmelsbach" (@davidhimmelsbach557) on "This Is What Happens When A Country Becomes A Ponzi" video.

  1. You've totally missed it: Lebanon's claim to fame was its BANKING sector. The civil war ruined it. That industry fled -- mostly to Cyprus. This caused all other economic equations inside Lebanon to go side-ways. The same would happen if Switzerland or New York City lost their bankers. Nothing could replace them. People forget, but Switzerland was the land of poverty -- for centuries. It was Jewish flight-gold that made Switzerland the vault of Europe. (Previously, London had been the vault of Europe, now it had serious competition.) Ultimately it has been revealed that the Swiss stole Jewish wealth -- even more than the Nazis. (!) A polity that lives by banking dies when that sugar high is removed. Every other player is merely shifting the deck chairs around. Famously, Puerto Rico was living off of Federal tax arbitrage -- Big Pharma was using it as a dodge. When this was stopped, Puerto Rico limped on by running up its credit cards. (Munis from PR are triple tax-free for NY City residents.) But such issues had no proper economic basis -- other than ducking mainland taxes. All of these situations are one-trick-charlies. All other economic activity was an illusion. Once the Prime Mover was removed -- the credit game (semi-Ponzi) could only go for a time.
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