Spain’s economic dilemma
Ambrose Evans-Pritchard reports on Spain’s economic crisis at the Telegraph. It should be clear by now that the European Union is a “prison of nations” that prevents nations from setting their own trade policies, tax policies, and interest rates. When times turn tough, these countries do not have control over the full complement of economic variables to fine-tune their economic policies. Spain appears caught in a deflation trap it cannot control. Today labor is marching in protest against the Socialist party. In the U.S., labor continues to vote socialist. NWOU concludes that European workers are smarter than American workers at recognizing they have been sold out by their socialist leaders. Unfortunately, the protests don’t begin until it’s too late.
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