US Action News

So if you are an American, don’t laugh at what is happening over in Europe at the moment. We are headed down the exact same path that they have gone, and we are going to experience the same kind of suffering that they are going through right now.

Could it be that rich and productive countries are tired of subsidizing social welfare, re-distribution of wealth schemes, failed multiculturalism, and sloth?

After two generations of entitlement indoctrination, the socialist welfare state is collapsing under its own unaffordable weight. It is the inevitable result of socialism. Too many Americans still vote a party because of a generation of propaganda molding their beliefs. Too many Americans are still willing to sell their vote and their freedom for a hand out in the form of a tax credit, healthcare, pension bailout, school loan, farm subsidy or a thousand other imagined benefits from a morally and fiscally bankrupt government as long as it is paid for by ‘someone else’.

In the meantime, the European Union remains a laboratory study of global governance and economic control gone awry. The question remains, are Americans paying attention to this powerful lesson?

That would hurt credit and crimp growth by 4 percentage points next year in Greece, Cyprus, Ireland, Italy, Portugal and Spain, Europe’s periphery. – Bloomberg

If you believe that Barack Obama, Mitt Romney or Ben Bernanke can somehow magically shield us from the economic shockwave that is coming then you are being delusional.

Those governments are all bankrupt. But much more serious than financial bankruptcy is their total moral and intellectual bankruptcy. At this point the Europeans are so craven and degraded they deserve to be indentured servants of the Chinese, which they will be.

The easiest way to deal with a debt spiral is to let it keep going and going. That is what the United States has done. Sure, “kicking the can down the road” makes the crisis much worse in the long run, but bringing the pain into the present is not a lot of fun either.

“I think the periphery goes into depression. When you look at a country like Greece, it’s now been in recession for three years. GDP is probably down 15% from the top. The stock market is down 90%, which is the equivalent of 1929 to 1932 in the US. This is depression-like. – Business Insider

The painful part of austerity hasn’t even hit yet, nobody in Europe has any idea what’s going on, and social strife, if it seems bad now, will become a daily issue.