In an ongoing sign of fiscal ignorance and insanity, organized labor movements across Europe demonstrated today against fiscal austerity measures enacted in an attempt to prevent complete financial collapse in several European nations. The highest profile demonstrations being in the bankrupt nations of Greece, Spain, and Portugal. This whole situation would be laughable were it not so serious. I mean come on folks. Massive numbers of people are demonstrating spending cutbacks by their respective nations when those very nations could not pay them even if they did not enact such measures! If that is not the definition of fiscal lunacy, then I need to go back to Econ 101.
Lets look at it another way. Lets pretend this situation is in your own home and the workers are your kids. Now lets pretend you have lost your job and haven’t worked for several years. You had a decent fiscal picture before you decided to share your earnings freely with your kids. Lets continue by pretending that your kids drove great cars, had plenty of spending money, and lots of great electronic gadgets to fool with. Even after you lost your job all was well because your bank believed you could turn the corner and they continued to loan you money to keep giving your kids.
Up until now, the bank was good with this situation. Lets further pretend that this same bank is finally realizing that you are not going to change your ways and they have lost all hope in you. Their only interest in you now is the fact that you owe them lots of money and should you decide to just quit being a decent family among all your neighbors, the bank would be totally screwed and the whole neighborhood would suffer. So they force you to get any job you can and cut off your kids from all but the essentials necessary to live. Your kids pitch a fit and are now down in front of the bank protesting and throwing large stones through the windows.
That my friends is where Europe is due to decades of socialist policy. That is also my friends where our nation is headed unless we wake up and realize that we can not continue to amass trillions upon trillions of national debt. So far Washington keeps hitting the snooze button. Will they soon wake up? I surely hope so.