So the people will decide. That’s good I suppose. Is the EU about to retreat from its frontiers? Will the Greek people capitulate? What will equity and debt markets do? Which country is next? If you have the answer to any of these questions please feel free to contact me in short order.
Culture is probably a factor here. But this map does not indicate good things. When was the initial crash? 2008? 7 years ago now?
Consider also that in Spain unemployment for those under 30 is running at over 50%.
Oh Liberland, what a great little experiment you are.
Indeed don’t. That would not be wise.
This is interesting. Taxes are optional. No army. Only the voluntary exchange of goods and services. A pretty cool flag. Liberland expects 100,000 applications for citizenship by next week.
One can view the new country’s official website HERE.
Vit Jedlicka, a member of the conservative Party of Free Citizens in the Czech Republic, is the self-appointed president of Liberland, which he says sits on unclaimedterra nullius territory wedged between Serbia and Croatia. The 3 sq. mi. “country,” where taxes are optional and a military is nonexistent, does not “interfere with the territory” of the two states, according to Liberland’s website.
“The objective of the founders of the new state is to build a country where honest people can prosper without being oppressed by governments making their lives unpleasant through the burden of unnecessary restrictions and taxes,” reads a statement announcing the creation of the new country this week. The country’s motto is: “To live and let live.”
This comes from a good friend of ACC Natasha Srdoc. I encourage everyone to take a look at the attached report as it gives a very interesting perspective on what is really going on in that vital part of global real estate where Europe, The Middle East, and Asia converge.
There is no doubt that this is a soft spot for the Russian leader. Putin is a crony of the highest order and he is surrounded by a constellation of lesser cronies. Russia is pretty much a cronocracy and has been for a long time.
It should be noted that no one is clean here. It’s not like Britain isn’t full of all sorts of financial nastiness. One need only look at the LIBOR scandal to see this. But the Russian oligarchs are a particularly brazen breed. For a Russian public which is now suffering through yet another currency crisis the oligarchs’s ostentatious style may be off putting and could provide a propaganda win for the West. On the other hand many Russians blame the West for their economic woes, not Putin.
But remember Denmark is the happiest place in the world. (sic)
Crony capitalists do well during wartime. There is a lot of money to be made in guns, bombs, and death. World War I, or as it was called, “The Great War” was the first time such destruction (and war commerce) was wrought on a global scale. I personally find it a fascinating time.
Consider that the Federal Reserve, the income tax, the plane, the tank, the machine gun, chemical warfare, The Soviet Union, and the First World War itself were all born within a few years of each other. It was a time of massive change and rising statism. Those few years in many respects defined the next 100.
There are lots of things that I like about Scandinavia and Scandinavians.
I like their furniture. I like their meatballs. I think vikings are interesting. They have great hockey teams. Iceland told the London banks to stuff it in 2009 which was fantastic. Cod and herring are tasty fish. Saabs were really cool (before they were bought by GM). Lego is awesome. Noma in Copenhagen, considered the best restaurant in the world by some, (almost in spite of being in Denmark) is on my life list.
But I hate Scandinavian politics.* Wedged between the West and the old Soviet Union the far northern Europeans came to embrace a non Bolshevik socialism much to the glee of many closeted socialists in this country. Indeed a certain slice of the American electorate continues to fantasize about how wonderful it would be if only America could be more like the blondes of the Arctic.
These Americans are nuts.
It’s easy to forget in this time of political correctness, in this time of regulated EVERYTHING, in this time of Black Friday sales, and Oprah Winfrey Shows, airbags, and helicopter parents that this country used to be a very rough and tumble place – and it wasn’t all bad. Indeed America was a blank canvas for many, full of opportunity as much as peril. America was a place where peasants came and carved out a living, in the hopes of achieving much more than just a living. Some, many, of them achieved real wealth. Something which could never have been achieved in Europe where society was stratified and barriers to entry of all sorts abounded.
Indeed. Europe is pretty much in depression. So is Japan. (But so what’s new?) And by the way deflation is not necessarily a bad thing. We had mild price deflation through the most prosperous part of American history between the Civil War and the Fist World War. Things should naturally trend toward being less expensive as innovation increases, delivery streamlined, and competition increases.- Just had to get that in.
By Rick Ackerman
Europe’s all-too-predictable relapse into recession is gathering force, threatening not only the pipe dream of economic and political unity, but eroding grandiose illusions that have helped prop up the world’s financial house of cards. The unwillingness of France in particular to play by the EU’s — i.e., Germany’s — rules appears to have doomed the EU dream. The idea of a borderless Europe bound by a common currency and a shared desire to forever banish war from the Continent was a lofty one, but it was mired from the start in deeply rooted political animosities, grass-roots skepticism and bureaucratic overreach. Now these problems, along with a great many others, have turned the EU project into a Tower of Babel. A million pages of meticulously codified EU rules might as well have been written in cuneiform, so inscrutable and arcane have they become.
The times they are a changin’ and they are a changin’ in jolly old England.
Japan had “a lost decade.” Then it had another. We are past the halfway mark of the American “lost decade.”
Keynesianism has failed utterly and completely. It’s not that there wasn’t enough stimulus. It’s that the concept of “stimulus” is bunk. It’s real “voodoo economics.” It is a cult. A dream. And as is increasingly obvious even to the Keynesians, a nightmare.