Category Archives: EU

Secession In Spain As Sweet As The Rain

EU, Europe, Federalism, Individual Rights, Journalism, Media, Republicans, States' Rights

I’ve been following the breaking news on RT of how “all four pro-independence parties now dominate 60 percent of the Catalan Parliament.” Fans of freedom, and hence of secession and nullification, will likewise be watching the developments in Spain’s Catalonia with great interest.

I’m surprised, however, that Drudge Report is doing the same. Today, 11/25/2012, Drudge led with the story, which none of the Dem and Republican loyalists on cable are remotely interested in. The same applies to the press. A “Calderon” item headlines the Washington Post’s “World” section. Neither has the possibility of secession in Spain made the front “page” of BBCNews.com

In the US, a country won over by dishonest Abe, it is considered politically improper to advocate political divorce down to the individual (check).

I may be jaded, but I think that Drudge views secession state side as a stand against Barrack Obama and thus worth hyping. More generally, he would not be covering a mass movement to secede in Europe, if it were not germane to his partisan interests in the US.

The GOP, the party of Lincoln, stands for centralized power, so long as their chosen dictator is at the helm. The same goes for the party’s press apparatchiks.

IdiotCare’s Stunting Consequences

Barack Obama, Business, EU, Europe, Healthcare, Regulation

IdiotCare, aka ObamaCare, kicks in once a company is 50 people strong. In a word, once the business starts to grow. The costs imposed by this mandate compel the company to duck-and-dive in order to stay alive.

Kari DePhillips, co-owner of a small PR firm, explains how the health-care law would impact her small businesses, and what she is doing to stay in business. Incidentally, small businesses are already adept at handling similar situations, so as to avoid incurring the costs of affirmative-action laws.

DePhillips, of The Content Factory, told Fox’s Gerri Willis that she is “scrambling” to comply with the mandate, for she must provide employees with healthcare or face fines.

The additional costs the Ass With Ears will be imposing on Mrs. DePhillips: The year 2012, for this business woman, will mark the first time the cost of healthcare per employee “broke the 10,000 mark”! “Multiply that by 50,” and this entrepreneur is in hock to the tune of $500,000.

Hiring “fewer people or hiring in a different capacity (part-time, “1099 contractors”) are two solutions mentioned on The Willis Report.

Moving to the state of New Hampshire, as part of the “Free State Project,” is another option this enterprising young woman intends to exercise in the future.

Both women failed to mention to the incorporation option. Create a new business (at a certain cost) each time your company reaches 49, hardly a viable option. It’s probably least risky to stay small.

Like the Europeans, don’t shoot for the sky.

In 2006 I visited The Netherlands, one of the more free-market countries on the Continent. Shops did not open, on Monday, until 11:00 am so as to conserve the labor force. Expensive merchandize was kept under lock-and-key; customers treated like potential thieves. The supermarkets—a small, expensive selection of merchandize—made a visit to Costco as invigorating as smelling salts following a fainting spell.

Wait until our businesses look like Europe’s: small, meager, expensive. Then, Americans will blame business and look to Obama for yet more regulation.

CNN Bimbo Holds Out Hope For Socialism

EU, Europe, Journalism, Left-Liberalism And Progressivisim, Media, Political Economy, Political Philosophy, Socialism

This week, CNN’s ERIN BURNETT, HOST of OUTFRONT, and “a valued member of the OUTFRONT Strike Team,” whatever gimmick that stands for, entertained the possibility that President Francois Hollande’s Socialist Party might just “save Europe’s economy and ours.”

Burnett’s babbling was boosted by “striker” Bill Gross, CO-CHIEF INVESTMENT OFFICER of PIMCO, who positively spun the political platform of Francois Hollande by describing France’s manifestly socialist agenda as “pro-growth,” and as “a different way forward.”

I listened to the Gross man live on TV. CNN’s transcriber failed to transcribe Gross’s salutary reference to France’s founding principles of “liberté, égalité, fraternité, writing in their place: “(INAUDIBLE)”

But here is Mr. Gross(out)’s verbatim nod to the blood-drenched, illiberal French Revolution and its legacy:

I think what [Hollande] is trying to do is favor labor as opposed to capital. Remember the (INAUDIBLE) [Gross actually said “liberté, égalité, fraternité”] and you know he’s moving in that direction. To the extent that he moves only gradually, I think that’s a positive. What France needs, what Euro land needs is growth. And to the extent that they can prevent a continuing recession, then the growth is going to be positive.

An “anti-austerity vote in France” Erin’s strike-man has conflated with a “pro-growth” agenda.

The Law is a pamphlet published in June, 1850, by Frédéric Bastiat, a great classical liberal “economist, statesman, and author.” Bastiat castigated his countrymen for becoming “the most governed, the most regulated, the most imposed upon, the most harnessed, and the most exploited people in Europe.”

In 1860, Bastiat saw France as a society that “receives its momentum from power”; a passive people who “consider themselves incapable of bettering their prosperity and happiness by their own intelligence and their own energy.”

“So long as they expect everything from the law,” he warned, “their relationship to the state [would be] the same as that of the sheep to the shepherd.”

Moreover, Bastiat, who had a mind like no other, did not share Mr. Gross’s fondness for French “fraternity.” “Enforced Fraternity Destroys Liberty,” he proclaimed.

“In fact, it is impossible for me,” wrote the great man, “to separate the word fraternity from the word voluntary. I cannot possibly understand how fraternity can be legally enforced without liberty being legally destroyed, and thus justice being legally trampled underfoot.”

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Roubini’s Odd Reasoning

Debt, Economy, EU, Europe, Federal Reserve Bank, Media, Political Economy, Russia

“The cable commentariat is a cog in the sprawling American comitatus. They all feed off Rome.” In this context, it’s hard not to notice just how hard the commentariat is working to create the illusion that America’s economic situation is better than Europe’s, and is the fault of Europe.

Not if you ask Vladimir Putin, who seems to have a reasonable grasp of matters monetary. In July of 2011, “Putin raged over the second plague of quantitative easing, QE2, unleashed by the Federal Reserve Bank, lambasting the Unites States for acting ‘as if they were ‘hooligans’ because they ‘flood’ the entire world with dollars … They start the money printing presses and throw dollars throughout the world in order to solve their immediate responsibilities. They say monopolies are bad but only if they are foreign – their monopolies are perfect. So they use their monopoly to print money until the whole world is flooded.’

This once-avowed communist congratulated his fellow Russians for not being like the Americans: ‘Good for us that we do not print reserve money.'”

In “One Nation Under Inflation,” I observed that “America’s debt-to-GDP ratio is larger than the European Union’s.”

I was wrong.

The US debt “is greater than the combined debt of the entire Eurozone and the U.K.

At 15.6 trillion dollars of government debt, everyone should know by now that, from the fact that the US keeps loaning billions for bailouts to Christine Lagarde of the International Monetary Fund—it doesn’t follow that we are richer. Or that we have this money. We aren’t and we don’t.

Alas, according to the “logic” of Keynesian macroeconomics, solvency is not a precondition for prosperity.

Adding to the confusion is economist Nouriel Roubini. When asked by RT whether he thought “the US has the risk of seeing the same situation as in the Eurozone, Roubini said something curious:

For now I don’t think there will be a fiscal crisis in the US. Their deficit and debt are large and rising in part because the US can print money to finance its deficit, something the Europeans and their banks are unwilling to do, in part because the US dollar is still a reserve currency, so the foreign demand of China and the rest of emerging markets is financing the large US fiscal and current account deficits. Now, no country should be complacent. Over time, if the US were not to deal with their fiscal problems, if it’s not going to deal with its still low competitiveness, eventually we could see a fiscal train wreck, a sudden stop of capital. And then financial turmoil could happen in the US. Whatever is the result of the election next year, whoever is going to be a president, starting a plan to build a fiscal discipline, a fiscal consolidation, is part of what the US has to do in order to avoid the risk of something bad happening. This can happen later in the US than in other countries, but it can happen eventually.

Is he suggesting that US counterfeiting operations and reserve-currency status are magic amulets against economic realities?

Surely running the printing presses and gulling other governments to buy our worthless bonds serves only to mask the inevitable reality?