Public debt

Econoshock publishes a post on the extrapolation of public debt in the Western world.

"The IMF sees debt rising to unsustainable levels, no end of the public debt vicious circle.
The big increase in public expenditures over the last 50 years was primarily (3/4) due to the rise of health care and pension costs."

Read : http://www.econoshock.be/2010/imf-report-on-debt-in-the-western-world/.

In my view, the published extrapolation is outright ridiculous ; it is as meaningless as many of the extrapolations produced by our "end of the world" environmentalists ! Pure scare  mongering.