As America Went, So Goes Europe

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At the root of Europe's problems lies a familiar menace.

The above video, courtesy of James Delingpole, isn't all that surprising (the Goldman Sachs stuff, not the "Free Masonry" nonsense).

In fact, what's occurring in Europe is eerily identical to what occured in the United States during its own financial crisis in 2008. Those directly responsible and complicit in the corruption and incompetence preceding the fall were not only spared punishment, they were rewarded by taking plum positions in government where they proceeded to transfer additional taxpayer wealth to make the banks (their former and future employers) whole. It's particularly odd that the man who cooked Greece's books to get the country admitted into the Euro is now the man charged with repairing Greece's balance sheet.

The added twist is that in Europe, unlike the U.S., a much harsher dose of austerity is being administered to the population. The likely result is that desperately needed economic growth will be all but impossible, causing even higher unemployment, much higher debt and intense political tumult.

None of this, I should add, hinges on any kind of grand conspiracy. It's all rather run-of-the-mill corruption and influence peddling.

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