In Europe right now the people are getting angry, they don't like what has happened. They feel as if it wasn't their fault. However, I have a different opinion of the matter. I do think it was the citizen's fault for allowing deficit spending, and socialist economic strategies in their country. I think it's their fault because they allowed leaders to promise them things which were impossible telling them that they could get free stuff, so they continued to vote these gentlemen into office.
Now, it's time to pay the piper, and they don't want to pay, so they are rioting in the streets. The same thing could happen here in the United States as well. If the Obama administration and the government keep spending money at this rate, eventually it's going to come time to pay, and the government will not be able to give all those free services they were giving away to buy votes. Then the people will be very angry and they will rebel and protest. When it comes time for austerity, and time to cut back on the spending, they are not going to like what happens.
Not long ago, I was talking to someone in the UK about this, and they told me that the US was smart for doing the huge and ongoing stimulus under Obama, whereas, the UK had gone through austerity, and no one was happy there. Well, a lot of folks aren't happy here because they still don't have jobs, and the Obama stimulus was wasted, but we still have to pay all that money back in the future.
Some would say that "the US has done better than the UK where austerity has had little if any benefit" but that is a backwards view of things. You see, we didn't have austerity in the US, but it's coming, further the Obama Administration's stimulus money was channeled and funneled to pet projects of crony capitalist friends, essentially it was wasted.
The US has not done well as there was NO net gain in jobs, actually considering the real unemployment numbers we are still over 9 million jobs short, and now we need austerity, so it was a double hit and we are still at no growth, but we will get inflation, stagflation, dis-deflation, or whatever the Nobel Prize socialist economic winner of 2013 wants to call it, and it's not going to be pretty.
If we are to compare the UK austerity with the Obama stimulus, I would contend that they are both the unintended consequences of socialist economic theory. We don't need socialism in the United States, we need free-market economics, a reality check, and we need to teach people how to fish, not give them fish each and every day at the taxpayer's expense, or with money that our children will have to pay back in the future. Please consider all this and think on it.
No comments:
Post a Comment