Debt that spreads like a disease is not limited to just our economy woes, but in Europe is seems to morph itself into an economic bubonic plague. This threatens to spread worldwide and could lead to violence and even War.
I read this article by Roger Kimball at Pajamas Media, where a member of the European Parliament in Strasbourg gave a stirring speech regarding a tsunami of debt the European Union is either ignoring, or deliberately protecting to preserve their superpower. The alarms have been ringing, but is anyone listening?
My favorite quote in the article is, “In the Age of Barack ‘the sky’s the limit’ Obama“, brings into light how tied the worlds economies are inter-tangled. While Obama tries to convince the lame duck session of Congress that the Bush tax cuts for anyone making over $250,000 should expire, and that he’s willing to consider extending the tax cuts for others making less. By reasoning that we cannot pay for the tax cuts, Obama is following EURO rational that we can spend ourselves into prosperity. Of course, you don’t pay for tax cuts, but don’t try to convince Barack “the economy impaler” Obama, of that little factoid.
Listen to Nigel Farage, the leader of the United Kingdom Independence Party, ask the European Parliament:
“Just who the Hell do you people think you are?”
An excellent question, indeed.
United Kingdom Independence Party
Sounds like a contradiction in itself, but there it is. In a prediction to the Union, Mr. Farage said the following:
It is “more serious than economics,” Mr. Farage argued, “because if you rob people of their identity, if you rob them of democracy, then all they are left with is nationalism and violence.
Note that North Korea is in the process of extorting aid from the West by shelling their southern neighbor, and students in France are rioting over increased tuition rates, the path to violence is already upon us. What’s next?