This is an excellent, mostly plain-language description of the failing paradigm that confronts the EU. If you listen carefully, close your eyes and substitute “the United States” for “the Eurozone,” you will hear a description of exactly what is headed our way. The interviewer, Michael Hewson, at 1:30: “We’ve had numerous EU (for us, the President’s Council of Economic Advisor-dolts) summits, we’ve had numerous G20 (same as Congressional) meetings, G8 (same as Super Duper Committee) meetings over the past 12, 18, 24 months, and we’re really no further forward than when we began…”
Megan Greene: “…[the various measures ECB has put into place] wouldn’t really help, it would just kind of delay the inevitable… They’ve managed to do what they do best, which is to kick the can a bit further down the road.”
Ms. Greene goes on to describe the incremental breakup of the Eurozone; will this provide the model for the states reclaiming control of their own destinies? Listen carefully as Ms. Greene wonders aloud whether the rich countries will continue to be willing to accept “unlimited fiscal transfers to the weaker countries [states?] forever.”
Let’s be really really really clear about this; this crisis is a crisis of socialism, a crisis of welfare for the poor and welfare for the rich, all at the expense of the middle class producers. It is a crisis of the controlled economy model which is shoved down our throats by the Federal Reserve Bank, which is not federal and which has no reserves. This is NOT a crisis of capitalism, as some have suggested. What we have now in almost no way even resembles true capitalism. There is no taxpayer-funded free stuff from the government in capitalism. There are no taxpayer-funded bailouts in capitalism. There is no all-powerful board of overseer wise men in capitalism.
There IS liberty in capitalism, however. In fact, the two go hand-in-hand. Capitalism and liberty cannot be restored independently of each other.