Euro: the gift that keeps on giving.

Jun 7, 2004
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#1
Long time ago, before the Euro blow up as it has now, I said here, and this is a direct quote, that, "Europeans will end up paying through the nose for the Euro." Under the best case scenario, that is a Europe that is financially fully integrated, the Euro is still a negative for the Europeans, let alone the current construct.

Of course I am not the first person to say this by any stretch of imagination. The only ones who actually understand economy, those who truly believe in free market economy, stated this long before, and at the time many were scuffed at. The two notable ones are Milton Friedman and Margaret Thatcher. Freidman with uncanny accuracy described exactly the type of crisis that Europe is going through right now, long before it happened. Thatcher essentially lost her position because he unbengingly refused to join the Euro. Oh what a service she did for her people and country.

Free market economy is not new, nor will there ever be a "newer economy" that is better. It is the only way, past, present and forever. It is just that because God has given humans a delay, a grace period, from when they make mistakes to when they suffer the consequences, people think that they have come up with a better alternative, but they will always, without exception be proven wrong over time.