Friday, June 9, 2017

Economic Growth (sic) in the Euro Zone

Today's news, ignoring the plight of James Comey and Theresa May, includes the revised upward economic growth numbers in Europe.  For the first time in a long time, Europe is experiencing 2+ percent growth.  This is cause for celebration in Europe, whose economy has barely had a pulse for the past decade or so.

It takes 3-4 percent to do anything for folks at the bottom of the pile, so there is no reason for those folks to celebrate.  But, the well-to-do and job-protected bureaucrats and academics can take heart.  There will be, for a while, enough government largesse to keep them going.  Pity those without the protections these folks have.

The overburdening regulations in Europe guarantee that folks at the bottom will never escape, similar to the game plan by the left in the US.  This keeps a ready supply of voters who are mislead, ironically, by the constant drumbeat of income inequality.  If folks at the bottom were given a decent chance to change, for the better, their economic prospects, the left would never win another election.  Thus, the regulatory apparatus designed, in part, to keep the poor in place.

Meanwhile, the Trumpian efforts to get economic growth restarted in the US are sidetracked partly by Trump's foolish behavior and partly by the press, whose main interest these days seems to be an attempt to overthrow the Trump presidency.

Meanwhile, the folks at the bottom of the economic pile, both in Europe and in the US, are left to languish without much hope for a better life.  So, Europe celebrates improved economics for the wealthy and the protected, while America focuses on a non-existent Russian threat.

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