The Folly of the Euro

While giving up one’s sovereignty seems to be a popular idea, it is not a prosperous one.

A while ago, as many as 16 European countries adopted the Euro. This would encourage trade throughout Europe, as all the goods are bought with the same coin. This benefits tourism and is a large step towards globalization.

However, when a nation gives up its sovereignty, other countries often make decisions that ruin it. The current issue at hand is the Euro, which is rapidly inflating (3.9+ % per year compared to the U.S.’s 2007 rate of 2.9% per year).

The European Central Bank was created to control the Euro, now the most used unit of currency in the world. There are mandates to control inflation; however, these mandates are ineffective and inflation is a growing concern in countries that depend on the Euro.

There is little control on the EU’s bank. As inflation rises, so does the price of everything. All of Europe suffers together, not for the first time in history.

Too Late Now.

Well, the pork pack passed the senate last night.

Obama will sign the bill in two days.

It is important to point a few things out:

Not one bit of it will permanently help the economy. Parts will not take effect for years. Most of it directs federal money to construction, which of course dumps money into the construction industry, creating  jobs. But these jobs are only temporary. And afterward, we have a bankrupt nation and a bunch of beautiful empty buildings.

When we divide the 789,000,000,000 dollar pork pack between the 15,000,000+ doctors, lawyers, and businessmen that compose the top 5% income group in our country,we notice something: This pork alone costs 1 out of 20 people $52,600 dollars. And this is only the first step. We need to remember that this $52,600 is coming from people that make as little as $250,000 a year. Many of these people are already having trouble paying their mortgage and keeping their business alive.

So, comrades, even though this isn’t directly hurting you and you can now enjoy an extra $8-13 a week, remember: more jobs are going to be cut. Inflation will skyrocket.

But don’t worry. Change is coming.

Wait A Minute…

Remember when gas prices were high?

And when airlines started intensifying baggage fees?

Well, why haven’t these fees disappeared? Gas is only a third what it was. Why is this?

Perhaps they expect us not to notice. Well, I’ve noticed. Alert to all airlines: the first to eliminate these baggage fees will be a hero. Don’t be afraid.