The amazing thing to me is that Americans are not connecting the dots. The Eurozone has so obviously taken social dependency to a level of self-destruction, that every headline in America should read: "Watch Europe Self-Destruct and Learn What Not To Do."
The odd thing to me is that Europe didn't learn from the Weimar Republic. It has been just one generation ago that Socialist Nazi Germany found themselves destroyed by the tyranny of Socialism under the guise of Nazism. One generation of lost memory. This makes me wonder about the intelligence of Europeans. But then Marx and the Fabian Socialists came out of Europe. Which still doesn't explain to me how populations of countries are so historically illiterate that they would fall for such obviously similar control of their lives by opting into the European Union. Throw in the horrors, failures, and ultimate collapse of the Soviet Union, and you have to ask yourself, "What do these people have for brains?" (I am including the deluded, leftist, Communists who somehow found themselves in power in the U.S., too.)
What does a loan shark do when debts cannot be paid? One of two things; Either kill the debtor and his family, take the assets and run. Or get the debtor even more in debt on the unsubstantiated promise that sooner or later the debtor will come up with some money, either theirs or someone else's. Exactly the case in Europe. And, in case no one is looking at the National Debt Clock, exactly the case in America. Politicians have become mafia lobbyists for the world banksters. The banksters have become the shills for the politicians. The banksters represent the mob bosses. Global corporations and non-profit foundations have all jumped in on the take. The politicians are the middlemen. They are getting greased from all sides. The taxpayers, having very little say in the matter, are the mark. And all of this wrong-headed economic mess is supposedly justified on a faulty economic theory made up by some very flawed character named Keynes. It was Keynes' idea that government should step in, print and/or throw around money at problems to make everyone feel better temporarily. Unfortunately, temporary has become permanent morass of ever bulging debts, with no hope in the universe of ever getting out from under it. You'd be laughing, if it weren't so pathetic.
A friend of mine Conservatives On Fire recently wrote on his blog that repudiation of debts was the only way out of this nightmare. That seems like a very sensible solution, since otherwise we are headlong into economic warfare. Is the IMF going to repudiate Greece's debts? Somehow I doubt this. Can the rest of Europe make good on the underwater debtor nations of Portugal, Italy, Ireland, Greece, and Spain? Somehow I doubt this, too. Does the whole world just chalk it up to a bad century and give everyone an "ollie ollie in free?" Not betting on it. Do the headmasters at the IMF just give it up and go home to their mansions without their pound of flesh? Nah.
And why were the debts acquired in the first place? Socialist programs. Buying votes. Creating dependency. Regulations of control and power over the formerly self-sufficient. Hooking up without a dowry or a marriage license...or a shotgun. Tying incompatible, multi-cultural, madmen together by a noose around their necks. (I say "madmen" because that is what you would have to be to create multi-culturalism.)
Borrowing from loan sharks and taking bribes have become the modus operandi of entire regions of the world, to the point that what used to be nation state economies are either collapsing or working toward collapsing at breakneck speed. Is anyone worried about this? Or is this so perfectly orchestrated to the benefit of the mob who will walk away with the spoils?
The Wall St. Occupiers are just demanding to get in on the take. That is all they are doing. And when PIIGS fly, they will get their demands. You see, the mob isn't looking to cut in some few thousand unemployed, student, homeless, communist, street musicians. OWS is just a side show entertainment production. The mob wants it all. And when it all comes crashing down, they will have it all. Just ask George Soros who never loses a bet and ends up winning by selling short.
Caveat here: I am not an economist nor am I close to a mob, so my extrapolations here are somewhat naíve, I suppose. It's just that the whole picture is made up of parts that are such obvious, stinking corruption of logic, that it sends me into head-banging frustration.