Skip to comments.Soros' Big Fat Statist Solution for Europe - "Fiscal Windex" is NOT The Answer
Posted on 04/14/2012 7:52:17 PM PDT by whitedog57
George Soros has a solution for the European debt crisis! But before you get too excited, remember that Mr. Soros is a Statist (Socialist, Progressive) and Statists are always predictable. They want MORE government control, more government spending, more government control (regulation), more taxes, more ... everything to fuel the big government machine. They also want fewer personal rights, fewer freedoms, less choice, less of everything.
Here is the Soros' Big Fat Statist Solution for Europe.
Rather than suggest tax cuts for Europe, less government spending and more personal responsibility, Mr. Soros
By rewarding good behavior, the fiscal compact would no longer constitute a deflationary debt trap, and the outlook would radically improve. In addition, to narrow the competitiveness gap, all members should be able to refinance their existing debt at the same interest rate.
While I agree with Mr. Soros that the EU needs to reduce its public debt, the way he wants to do it is ... big government Statism.
"all members should be able to refinance their existing debt at the same interest rate. But that would require greater fiscal integration, so it would have to be phased in gradually."
Most of the EU is in negative real GDP growth or near zero. So, Mr. Soros is right that LTRO (Long Term Refinancing) by the ECB is only relieving temporary pressure. There is still an iceberg looking in front of the EU. And it is BIG!
The solution to the EU's woes is NOT more regulation, spending and debt (or a STRONGER central government), but autonomy and economic growth.
Sorry George, your "Windex Solution" won't help, but it will increase the unrelenting growth of the power of The State.
Can we try limited government and private market solutions, please?
(Excerpt) Read more at confoundedinterest.wordpress.com ...
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