The EU, like most governments, is extremely good at spending money. The trouble is they don’t make money themselves, they have to get it from elsewhere. This is becoming a big problem for the EU:
Over the last week, bitter wrangling has broken out over some minor budget cuts, while the European Commission is struggling to build support for an extra €86bn (£74bn) on its budget. In reality, the EU is starting to run out of other people’s money – and very soon that is going to become painfully apparent.
They said that here in the US when Reagan took the presidency and he was going to cut the deficits. Laughable but all lies.
People believed in cutting the deficits for decades. Those folks were lied to blatantly. The idea was cut taxes. Really? Then blame the poor. Really? Yes it took a special kind of stupid to buy in. Meanwhile there were only endless lies.
The big thing to watch is the debt to GDP ratio.
Now I say Germany and central Europe is going towards Supply side econ…that is where simple minded people are lied to endlessly.
The reality is central Europe is tightening its belt and going to have an industrial policy. The reason is Europe is a cycle ahead of the US. Our supply side period did not have an industrial policy.
Looking at this chart @Divitias as opposed to just trusting an article even by MSN your chain is being yanked.
