In
a recent statement, the European Commission president repeated a
theme that often comes from that area; that their financial problems
originated with the American financial meltdown of 2008-09.
They
are wrong again. The Europe we see in a financial mess is a byproduct
of thinking that goes back to the end of World War II.
While
the U.S. had an economy that grew at an average GDP of over 3%, the
European easy-living, government modulated type, had a GDP averaging
about 2%. And as the saying goes, the chickens have come home to
roost.
Notice
that the German and Swiss economies have done well despite America’s
influence? Their government style is different. (See the Earl J.
Weinreb NewsHole® comments.)
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