The show this week was great! Thanks to callers and listeners alike. Who knew the European Debt Crisis could be so much fun? To tell you the truth, the truth is so horrible that ya gotta laugh at it or you’d cry! Central economic control and the socialist state are as much a failure in Europe as they were in Russia and North Korea, and as I’m sure we will find, in China, yet Europeans continue to double down by betting again on socialism (in France) and communism (in Greece) in the elections of last week. What are they crazy? (Actually, maybe they are: check out my video preview of the show and the article I reference in that post: 40% of Europeans are reported to suffer mental illness!)
European Debt Crisis
If you haven’t been following the European Debt Crisis, the upshot is that the PIIGS (Portugal, Italy, Ireland, Greece & Spain) are already effectively bankrupt and other countries, including France, are not far behind. Despite this, France replaced it’s “conservative” President Nicolas Sarkozy with a socialist, Francois Hollande, as Hollande promised to spare the French people austerity and still somehow spare them bankruptcy. I don’t even think Hollande believes this is possible, but he will raise taxes in a last ditch effort to placate the masses that he’s doing everything he can to get them their free lunch.
Austerity vs. Liberalization
Frankly, although I am the most fiscally conservative person you could imagine (I think government expenditure should be $0!) I don’t think the austerity they are talking about in Europe would work anyway.
