From a post last November.
I trust you know that the western hemisphere economies are broken.
With the exception of some micro states with special circumstances and Germany that has successfully re-routed its exports to Asia, everybody else is in a terrible mess, with no real end in sight. The bailouts amount to nothing more than kicking the can further down the road when the billions will have to be re-paid, and the clamoring for austerity and re-balancing of the budgets can really only have one immediate effect: more joblessness that may even become structural, less consumption and consequently, an even slower economic recovery.
Take Europe: Greece, now Ireland, soon Portugal and Spain, possibly Belgium and Italy: more austerity, more riots, more job losses – not to mention a weakening of European solidarity and the Euro.
We need Leadership, not ideology.
