Anyone not Paying Attention to Europe is Missing Our Future (polls, dictators)
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Greece, Italy and now Spain are turning their backs on left and left of center governments that have, for decades, sought to offer a cradle to grave support and safety net, and to provide their union political bases with restrictive to the labor market, and to business, labor laws. This was sustainable as long as growth was 3, 4, 5 % and higher. But slowly, all three have with smothering labor laws and business regulations dampened economic activity. Their GDP growth is in the ~1% range, their general private economic activity is at a standstill. Sound familiar?
So, it is ironic that the three governements that once had their citizenry dependent on them, now, are in turn dependent on the more productive Northern European countries to provide for them.
Yes, those counties have what can be called over generous social services. Especially when you consider that the general populations doesn't pay their taxes to pay for those benefits. Italy has always been a large economy basket case. Spain was a fascist dictatorship until the 1980's and Greece was almost like a developing country that had no business joining the Euro.
Bad and loose economic policy combined with high spending, government corruption and low tax receipts is what got these countries to this point.
I don't think any of you are looking at the labor law components here, where trades are closed, contract negotiated annually and nationally, businesses are unnaturally constricted from innovating, etc and so on.
Everything you point out is true, but it is lack of the ability to be productive, both as individuals and as corporations that strangles economies. Slowly, over time.
So that when the government is out of tricks to keep the patient alive, there is nothingness.
Greece, Italy and now Spain are turning their backs on left and left of center governments that have, for decades, sought to offer a cradle to grave support and safety net, and to provide their union political bases with restrictive to the labor market, and to business, labor laws. This was sustainable as long as growth was 3, 4, 5 % and higher. But slowly, all three have with smothering labor laws and business regulations dampened economic activity. Their GDP growth is in the ~1% range, their general private economic activity is at a standstill. Sound familiar?
So, it is ironic that the three governements that once had their citizenry dependent on them, now, are in turn dependent on the more productive Northern European countries to provide for them.
Germany has a free market system rather than a socialist one.
You are confusing Socialism with the Socialist Party.
The current party platform of the Socialist Democratic Party believes in democratic freedom and social justice. In other words, they believe in free markets but liberal social safety nets.
Greece, Italy and now Spain are turning their backs on left and left of center governments that have, for decades, sought to offer a cradle to grave support and safety net, and to provide their union political bases with restrictive to the labor market, and to business, labor laws. This was sustainable as long as growth was 3, 4, 5 % and higher. But slowly, all three have with smothering labor laws and business regulations dampened economic activity. Their GDP growth is in the ~1% range, their general private economic activity is at a standstill. Sound familiar?
So, it is ironic that the three governements that once had their citizenry dependent on them, now, are in turn dependent on the more productive Northern European countries to provide for them.
But you see these Liberals that are running our Government are smarter than those over there. And what is happening over there would Never happen here we have to many rich people. Who would never move out of this country to another one and take their money with them.
Germany has a free market system rather than a socialist one.
Yes, free market, but they ARE still a Socalist country, I know this to be a FACT, I was born there, have relatives there, and travel back to visit and on business at least every couple of years.
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