Monday, July 30, 2012

US Economy Limps Along at 1.5% Growth Rate

This is the natural consequence of a misguided regime whose idea of good economic policy is encouraging subprime loans and blatantly lies about the federal budgetMeanwhile, California contains only 12% of the country's population but 1/3 of all welfare recipients.  This is also a natural consequence of liberal economics.

For the failed state of Spain, the country's unemployment rate reached 24.6%Rescuing that country requires more than $800 billion which is more money than EU's bailout mechanism can raise.  Eurobonds and EU control of the banking sector are probably inevitable.  Though they might save these European countries in the short term, this is nothing more than a disguise for Germany to pay everybody's debts.  It is doubtful that Germany can afford it.  Aside from that, the long term consequence of destroying the German work ethic, which has already been devastated in eastern and western Germany, will only guarantee that the economic crisis will return in the future in a more aggressive form.

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