Tuesday, August 16, 2011

MEMO TO THE LEFT: EUROPE'S DEBT CRISIS WASN'T CAUSED BY MILITARY SPENDING OR "TAX CUTS FOR THE RICH"

NYTIMES:
Debt Crisis Seen Taking Toll on Euro- Area Economy



The slowdown in Germany, Europe’s largest economy, will make it more difficult for the euro zone to pull out of its debt crisis, economists said
  • THE DEBT'S CAUSING THE CRISIS ARE GOVERNMENT DEBTS.
  • THE GOVERNMENT DEBTS IN EUROPE WERE NOT CAUSED BY TAX CUTS FOR THE RICH OR MILITARY SPENDING.
  • THEY WERE CAUSED BY SOCIALIST SPENDING POLICIES.
SAME HERE IN THE USA.



WE WON'T GET PUT OF THE CRISIS UNTIL WE UNDO DECADES OF UNAFFORDABLE SOCIALIST POLICIES.



THIS MEANS REDESIGNING PENSION AND HEALTHCARE PROGRAMS FROM THE BOTTOM UP.



EUROBONDS AND CONGRESSIONAL "SUPER-COMMITTEE'S" ARE TO LITTLE TOO LATE.

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