Officials over in Europe are trying to hold the European financial system together with duct tape and prayers, but it could literally fall apart at any moment. Europe has a much larger banking system than the United States does, so when a financial collapse happens in Europe, it is going to be very significant for the entire globe. Sadly, most Americans do not even pay attention to much of anything that is happening in Europe. They tend to think that the United States is the center of the universe and that as long as we are fine that everything will be okay. Well, all of those people who are not paying attention need to wake up. First of all, the U.S. economy is most definitely in decline. Secondly, the European economy is imploding right in front of our eyes and Europe is going to end up dragging the entire globe down with it.
The following are 11 facts that show that Europe is heading into an economic depression…Read more....
The source is uncertain but this nineteenth-century statement is surely true: “A Democracy cannot exist as a permanent form of government. It can only exist until the majority discovers it can vote itself largesse out of the public treasury. After that, the majority always votes for the candidate promising the most benefits with the result that the Democracy collapses due to the loose fiscal policy, always to be followed by a dictatorship.” The statement is often wrongly attributed to Alexis de Tocqueville, but he actually did say, “A democratic government is the only one in which those who vote for a tax can escape the obligation to pay it.” If that sounds familiar, it is—and that is ominous. It is doubly ominous because high Chinese officials have remarked that democratic capitalism is failing while autocratic capitalism is succeeding. Beginning in 2012 the Chinese will overtake the United States in new scientific advances in some fields. One year later, their gross domestic product (GDP) will exceed ours.
ReplyDeleteCredit policies long pursued by central bankers based on the Keynesian Model of progressive inflation have brought the United States to the brink of economic collapse. In the final analysis, even wealthy nations cannot afford to live beyond their means to support Progressives’ “social justice” welfare programs. Nearly all the developed world is at the “Keynesian End Game” and the end of the dollar UNLESS we find a wholly new source of national wealth. Globalization and “free trade” agreements have led to the outsourcing of well-paying jobs from the advanced nations and a boost to the growth of developing nations. Unless reversed, this trend will continue to the detriment and ultimate collapse of western economies. We must become net exporters and keep balanced budgets.
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As of now the country's economy is quite improving compared to last year which many had predicted that it will experience a full blown depression.
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