Anyone looking at the economic and political crises afflicting the wealthy countries of the West is justified in being confused. Even Germany's Chancellor Angela Merkel, whose economy is the most successful in Europe, has complained about the amount of "contradictory advice" she receives.
Experts can be heard every day pondering why major western economies are not emerging as expected from the 2008 financial crash. Instead of healthy growth, America has a "jobless recovery" while Britain has no recovery at all. The weaker economies of southern Europe - Greece and Portugal - are being bailed out at tax-payer expense, while the markets wait anxiously to see if Spain and Italy can survive.
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