Monday, November 7, 2011

The Eurogenius Zone: It's Not Greek To US

When the Eurozone was formed it didn't give itself the necessary tools to deal with the current crisis. The very foundation of its financial and political structure is therefore unsound. This fact is recognized by all of the suffering parties involved. It will be impossible to quickfix the problem without divine intervention, which has been in even shorter supply in Europe than known Greek taxpayers. The U.S. has a lot more options for regulating its fiscal policy, and with more than 50 state and territorial governments to answer to, it would probably welcome even more options. The Eurozone members must borrow from Peter to pay Paul, while the Americans who have raised Capitalism into an art form, merely borrow from themselves to maybe or maybe not pay themselves back when and if they ever get around to it. The 1st rule of Capitalism is: Thou shalt give thyself the edge.

It's not for nothing that Benjamin Franklin was a printer and has his picture on the C-note.

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