US Action News

As the Europeans see it, global warming is so bad that they have to tax … us.

The love of freedom knows no boundaries. They are not all “European style socialists” in Europe.

It is rather ironic that Barack Obama, who has probably done more damage to the American economy that any president in modern US history, is now lecturing European leaders on their financial problems as well.

And the Debtocrats led by Obama are robbing American children. British MEP Daniel Hannan on the lunacy of borrowing yet more money on the backs of future generations.

The real problem is that Europe has created a massive welfare state that its shriveled, undynamic economies can no longer support.

“Its not just the European assumptions that are crumbling its the whole Keyensian edifice on which they rest. All those men who think think of themselves as practical but are in fact slaves to some long defunct economist are now finding that their belief system is in ruins. You cannot spend your way to growth. You cannot increase consumption without producing something at least not in the long term. and you cannot debase a currency without consequences and you cannot keep borrowing forever. And if you try to do those things what happens? You are about to find out.” – Daniel Hannan MEP for southeast England

British MEP says bankers pushing default onto European taxpayers. Daniel Hannan, a writer and journalist, and Conservative MEP for South East England since 1999 believes that the European Union is making its constituent nations poorer, less democratic and less free. “You can evade reality wrote Ayn Rand, but you cannot evade the consequences of evading reality.” “We’ve reached the limit of trying to move markets with public money.”

85% of international investors recently surveyed by Bloomberg said Greece will probably default, with smaller majorities predicting Portugal and Ireland will do the same.

“amidst a significant European economic crisis with major consequences for the United States and other countries,” less than two hours would be devoted to economic matters.

The most accurate foreign-exchange forecaster says the euro will continue to weaken and may approach parity with the dollar as the European Central Bank buys more government bonds to support the region’s economy.