Preface: I need to make a cogent economic point before the conservatives and
wild eyed tea party enthusiasts go off the rails about the failures of socialism
and how Obama will lead us "forward" off the fiscal cliff where Greece
is currently standing.Backstory: I've been pointing out over
the past several years about the systemic inequities inherent in the Euro Nation
States means of production and their respective cultural attitudes eventually
led to this cataclysmic event. I've argued for months now that the Euro
should be terminated while the member trade agreement stay intact (this includes
the free mobility of labor from country to country).My Point: What
we are witness to is not a result of socialism in general - Germany has
universal health care and near-free college tuition borne on the backs of the
taxpayer - but wages and pension growth at the expense of leveraging that
nation's future productivity. It is in my opinion that Greece AND Span
Default on its sovereign debt, leave the Euro, and start over in it's own
currency. Argentina did it over IMF Loans and it worked out fine.
re: EconomistVery good points.Yet when we are running
trillion dollar deficits yearly, and have a cumulative deficit equal to our
entire GDP, how can you look at that any way except that our government is
growing at the "expense of liveraing our future productivity".
Another good reason to transfer title of Fed lands to Utah. The Fed Govt. is
heading for the fiscal cliff, Utah is sound fiscally. Unfortunately we would
still lose all the National Parks in the "fire sale".