Monday, September 29, 2014

So, How Goes Europe?

"Businesses and consumers across the 18 countries that share the euro were more downbeat about their prospects in September than at any time since the end of 2013, likely reflecting disappointment with the pace of the eurozone's economic recovery and the conflict in Ukraine."

This cheery comment was the lead sentence in this morning's Wall Street Journal report on Europe by Paul Hannon.

We are in to year six of the non-existent European recovery.  Is growth simply over for Europe?

The massive debt problems that exploded in the Greek crisis of three years ago are now much, much worse.  The solution to massive debt problems was to add even more debt to the pile.

That isn't working and it has no hope of working.

The US should be watching this ongoing disaster in Europe.  Big government solutions ultimately lead to what is happening today in Europe.

And who are the losers?  Folks at the bottom of the economic pile.  When you destroy free markets you destroy the hopes and dreams of the poor and the middle class.  The rich continue to live like George Clooney and Warren Buffett.

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