Allen's Weblog

Borrowing money to expand government services while awaiting an economic turnaround is a policy tried by the European Union — and that has driven them into the second wave of a double dip recession.

In Europe, the “rich” nations carried the poor nations until the rich nations were threatened by their own problems — caused by carrying moocher nations.

Moocher nations of Europe, Portugal, Spain, Ireland, Italy and Greece say, “We need more money! More time! We can’t stand this austerity. We exceeded our debt limit, now, to keep living beyond our means, we need you “rich” nations to pay our bills.”

(Sounds like someone I know!)

Meanwhile Socialist President Hollande of France is realizing the limits of socialism. In pre and post election tirades he railed against and threatened to nationalize a steel plant owned by an Indian billionaire – which pleased his union supporters, but caused massive shifts…

View original post 69 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s