Remember that movie "If It's Tuesday, This Must Be Belgium"?
It was a comedy about travelers and the kind of funny stuff that happens when you travel from one country to another.
Well, if it's Tuesday then it must be the euro or one of the many countries "over there".
Here are some of the headlines from Tuesday:
Of course, my favorite headline was this one: Christie rips Obama over deficit talks: 'What the hell are we paying you for?'
Yes, it was a crazy Tuesday and it ain't over yet!
We hear that the finance ministers are looking for "a way out". Unfortunately, there is no "way out" for a continent that has been living a fantasy for 50 years.
This is Europe today:
1) Very lw birth rates, i.e. No babies. Who in the world is going to work and pay the taxes? How many "guest workers" can these countries import?
2) Taxes are to high. Frankly, "the rich" don't live there anymore to pay them. The "rich" have put all of their money in "tax havens" to avoid the crushing tax rates imposed by the welfare state.
Last, but not least, no one has the political courage to tell people to stop relying on government for "the cradle to grave" support that so many have grown to expect.
I don't know where all of this will end up but it won't be a funny ending like in the aforementioned movie.
Click here for our discussion with Dr Ileana Johnson-Paugh about the European crisis:
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