The EU’s repetitive fiscal and economic chicanery can only result in negative results. With the heel of their jack boot placed firmly upon the throat of the economy, which means the rejection of free market capitalism, the economies of the EU and elsewhere in Europe outside of the EU, are contracting. Take away individual and economic liberty and you’ll get tyranny and poverty.
BREITBART.COM: The euro zone slipped deeper into recession in the fourth quarter of 2012, much more severely than economists had predicted.
Germany’s economy contracted 0.6%, while France’s fell 0.3%. Furthermore, France’s figures for the first and second quarters of last year were revised to negative, indicating negative growth for three of the four quarters of 2012.
This is not a minor thing. All the speeches by European politicians, all the policies by financial ministers, all the plans and budgets by analysts — all of them are based on the assumption that all the 1980s and 1990s macroeconomic models still work.
As I’ve said repeatedly, the only models that work today are the ones from the 1930s, because that was the last generational crisis era. Alan Greenspan has also pointed out that every macroeconomic model has been a failure for the last five years. Reuters.