That Problematic Euro...

polifrog



Malcolm Berko
:

: There are about 500 million people living in the 17 European Union (EU) nations, and together they’re responsible for a 2011 gross domestic product (GDP) of $16.8 trillion. The population of the U.S. is about 350 million and our 2011 GDP will be (give or take a few million) $16.2 trillion.

So, basically, the U.S. worker is 50 percent more productive than the working population of the EU. The combined 2011 GDP of the world is $74 billion, and the EU is responsible for 23 percent of the GDP of the world.

That socialist good life bubble is collapsing, but it looked right appealing there for a while.

Go to work.




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Greece is Broke Again, Germany is Tired and Europe is Boned...

polifrog



Simon Black:

Why should a German hairdresser who retires at age 65 stick his neck out so that a Greek hairdresser can retire at age 50? This, from a continent that was perpetually at war with itself for over a thousand years.

With a weary Germany, Europe turns with empty pockets to China:

It’s a testament to the absurdity of our failed financial system when the highly indebted rich countries of the world have to go to China, a nation of peasants, for a bailout.

Don't think that China is all into Keynesian pump priming the world so they can sell their goods. No. China is buying political influence in the western world at the expense of western citizens who made the mistake of trading individual responsibility for shared responsibility.

We are the ones China has been waiting for.




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Using Keynes to Remedy the Inequity of Rising Standards of Living Between Generations...

polifrog

Today Dr. Brod gave us the generational redistibutionst's argument for Keynesianism:

Economists have generally pointed out that given steadily rising standards of living, what would really be inequitable would be leaving no debt to future generations (which is the core point of Queenan's article).

In most cultures leaving a stronger, wealthier tomorrow to subsequent generations would be a source of pride.

Only in liberalism would such success be a source of envy.

How best to remedy the inequity of the rising standards of living that benefit unborn generations?

Keynes and its generational redistribution, of course. Diminishing tomorrow for today through debt.

The result being the uniform equity of no rising standard of living across generations. Heck, we know it works, just look at Japan and it's success with Keynesian sourced generational redistribution otherwise known as Japan's 20 year recession.

Ultimately arguing for Keynes' generational redistributionist qualities is an admission of Keynesian born economic stagnancy and failed growth policy.

Bugs can be features to the socialist.
Insidious.



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Rep. Brad Miller -- The Silent Socialist...

polifrog


I am new to blogging, dragged into it by rogue governance, so Guarino is new to me.

I was unaware of what he refers to as "a biennial feature" on his blog that this time around compared self proclaimed socialist, Bernie Sanders, who serves as a Senator in Vermont to Rep. Brad Miller.

It it he compared the the voting records of the two via the American Conservative Union (Conservative) and the Americans for Democratic Action. (Liberal) The two use the same 100 point scale.

• For the ACU, the closer to zero one rates the more liberal one is.

• For the ADA the closer to 100 one is more liberal they are.

...................ACU ...............ADA
...................2009 .............2009

Miller.......... 0................... 100

Sanders...... 12 ..................100

Guarino concludes:

If anything, Congressman Brad Miller's voting record is to the left of Senator Bernie Sanders. Draw your own conclusions; but I think Miller himself is a socialist, just like Sanders.

I agree.



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A "Win" for Brad Miller -- HR 5297 -- Merkel knows otherwise...

polifrog




Contrast the anti Keynesian title below to Brad Miller's "win" with HR 5297 (more stimulus),

Europe to urge exit from stimulus schemes at G20

You don't have to, thanks to Merkel.

Europe will push for a swift exit from fiscal stimulus programs and a focus on budget consolidation at the G20 meeting next week, German Chancellor Angela Merkel said on Saturday.

Brad Miller, stuck on Keynesian stupid.



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More of that Socialist Cow Bell:

polifrog


Interesting quotes making the rounds this weekend.

Christopher Booker:

We have still scarcely begun to wake up to the gravity of the crisis now upon us, not just for the eurozone but also for us here in Britain and for the entire global economy.

Angela Merkel:

the current crisis facing the euro is the biggest test Europe has faced for decades, even since the Treaty of Rome was signed in 1957

and

If the euro fails, Europe fails.

Richard Russell (Dow Theorist):

Sell everything, you won't recognize America by the end of the year.

Of course there is this piece of fun posted earlier:



Obama:

The international order we seek is one that can resolve the challenges of our times,

Obama apparently sees Europe and thinks we need more of that socialist Cow Bell right herein America. If we aren't headed for a second leg down in the image of the Great Depression, we are at best driving head long into an extended ObamaDebt fueled morass.

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