The bell tolls for the Eurozone
The situation there is grim, and the financial and social systems there are buckling:
The worst nightmares of […] Euroskeptics have been exceeded. The United States carried the luxury-goods industries of France and Italy and the engineered-products industries of Germany on its back for decades, but it will not and cannot do it anymore. Decline is reversible; more complicated is a death wish as thoroughly installed in the attitudes and practices of whole peoples as that of most of Europe.
If Europe cannot spark a demographic renewal, with a work force comprising fully half the people, flexible labor markets, tax rates that encourage savings and investment, an end to stealthily galloping inflation, and a reactivation of the economic and military muscle that alone confer credibility, it will quietly perish.
These are the results of cradle-to-grave statism, and Euro-socialist economic policies. There is no reason why this cannot happen here in the United States, in fact it probably already is happening. The laws of economics and common sense apply in our country as well as in Europe.