In the 1992 presidential campaign, James Carville’s motivational meme “It’s the economy, stupid.” perfectly encapsulated the key issue of the election. In 2012 “It’s unsustainable, tuip”. You may not like the Romney/Ryan plans for dealing with our unsustainable spending, debt and entitlements, but at least it is a substantive plan and they are willing to talk about it during this campaign. If the Democrats and the Obama administration have a sustainable fiscal plan for the United States government I don’t know what it is, and they sure seem reluctant to talk about putting anything meaningful on the table. The easiest thing for the President to do would be to embrace the Simpson-Bowles plan. It was his commission. It was his idea. If the 2012 presidential election comes down to a choice between a candidate with a serious plan to get us out of this morass vs. a candidate that appears to ignore it – the man with the plan wins.
Archive for the 'europe' Category
China to Europe: ‘Your worn out welfare society and outdated labor laws induce sloth, indolence and penalize hard work.’By mw | Related entries in Bad Decisions, Bailouts, Banks, China, europe
Jin Liqun explains with crystal clarity the prerequisite conditions for China’s potential role as a “white knight” riding to the financial rescue of the Eurozone. To whit – if it is not good for China, and it is not a good investment, China is not going to participate in the European Financial Stability Facility (EFSF). Then in explicit terms, with no BS, no mincing of words, and no diplomatic artifice, Jin Liqun lectures Europe on exactly the problem with the Eurozone labor laws and welfare state.
A couple of fun videos outlining what happened in Southern Europe. Part One Part Two I’ll share Part Three when it’s available…but we all know that the EU opened up the cash drawer and created a TARP fund of their very own to make sure that these countries remain solvent…at least for now. More as […]