atomic_fungus (atomic_fungus) wrote,
atomic_fungus
atomic_fungus

#3160: Italy and the Euro

Is Italy going to default? We still haven't answered the Greece question--or maybe they did while I was playing Katawa Shoujo--and we're already talking about Italy?

Well, they're all going down the crapper.

The response is to talk about devaluing the Euro. Problem is, that's not going to work; no one in the world has the money to make this work. Not the US, not China, not Japan, no one.

There is no way the profligate spending can continue.

It's the hard, cold facts of arithmetic. You cannot spend more than you earn ad infinitum, and that is as true for governments as it is for individuals. The scale is longer and larger, but it is still true.

Socialism does not work. It can't; it is contrary to human nature. How ironic that the political creed which is typically atheist nonetheless expects people to be completely altruistic; that's why it eventually leads to totalitarianism: the only way to get people to accept the endgame of socialism--total government confiscation of wealth for the purposes of redistribution of same--is to disarm them and then point guns at them.

Europe is still struggling against the inevitable collapse that attends each and every Ponzi scheme. Government can get away with the pryamid scheme of socialism for longer because it can print money, and because the pool of suckers is so large.

Problem is, it makes the inevitable collapse a hell of a lot messier, too.
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