The latest news out of Europe is that British Prime Minister Churchill Cameron refused to surrender sovereignty to the rest of the EU. Those on the continent have tied themselves to the Euro like tree huggers saving the forest.
All Posts Tagged With: "Thatcher"
Nero, Bonaparte and Hitler Walk Into an Economic Union
In the Name of Debt
It should be obvious that the Greeks owe too much. But so does almost everyone. Every kind of debt is so heroic it poses an affront to nature and a challenge to the gods. Much of it is unpayable. Private debt. Public debt. Short term. Long term. US. England. Europe. All kinds of debt in all kinds of places. In America’s private sector, for example, debt exploded 6 times faster than GDP since 1950.
July 5th, 2010 | Bill Bonner | 21 comments | Continued
Stimulus, Austerity, and the Spiral of Decline
“Austerity” usually means spending cuts and tax hikes. But, it does not take long before politicians, bureaucrats, public employees and corporate cronies all agree that they don’t actually want to cut spending. Usually, they take some unpleasant swipes at welfare programs and services – in other words, the only programs that actually do some good, and which are especially important in a recession.
June 25th, 2010 | Nathan Lewis | 2 comments | Continued
Americans Used Their Economic Freedom to Ruin Themselves
The two great political figures of the last thirty years were Mrs. Thatcher and Mr. Reagan. These titans from the two sides of the Atlantic led the way to a new idea of how the world should work. Thenceforth, capitalism was king. But it was a new kind of capitalism they had crowned, one with a strange, unnatural face. It was not the old free enterprise, king of the jungle, red in tooth and claw.
March 31st, 2008 | Bill Bonner | 27 comments | Continued
