Arrogant politicians are so full of themselves they refuse to listen to anyone or learn any lessons from past experience or historical precedent. This is particularly true of socialists whose minds are closed to anything outside their failed, poverty inducing ideology.
The Far-Left President of France, Francois Hollande, campaigned on a socialist ticket and was warned at the time that his policies would cause capital flight and an exodus of France's wealth creating talent which would eventually bankrupt the economy.
He refused to listen and went ahead regardless. He increased taxes to penal levels, extended and increased welfare entitlements and imposed a raft of other socialist policies in order to address those old worn out socialist goals of inequality and social justice.
And so it came to pass as predicted - the government taxed, borrowed and spent the French economy into oblivion, consequently condemning into poverty and misery the very people he was supposed to save.
President Hollande has declared a 'state of economic emergency' which is a spin doctor's way of saying 'bankrupt' without actually uttering the dreaded word. His solution is of mind-numbing stupidity and typical of an ideologue who is incapable of thinking beyond his ideology. He plans to pay employers to employ laid off workers but doesn't say where the money is coming from.
To make matters infinitely worse for the European Union and put it's project to replace the nation states of Europe with a single state; the German economy, which bankrolls the project, is facing financial ruin also.
German Chancellor Angela Merkel has managed to destroy the mighty German economy with a combination of generous and extensive welfare entitlements, a suicidal policy of open border mass immigration from the poor undeveloped third world and bankrolling the bailouts of the failed economies of the Eurozone.
(Read the German and French bankruptcy stories here and here)
Another Greek bailout is looming in a matter of months closely followed by the failed economies of Portugal, Italy, Ireland and Spain - collectively referred to as PIIGS - along with Cyprus and the former communist Eastern European countries left over from the defunct Soviet Union empire.
It must be noted at this point that Angela Merkel was a Communist Party apparatchik in the old Soviet satellite state of East Germany which was a dismal totalitarian state where the people were kept oppressed by Stasi, the notorious and ruthless secret police.
Merkel, the most powerful leader in the EU will have been a willing participant in the repressive totalitarian regime therefore it can be fairly assumed that it runs in her blood like ice water. It's in her DNA.
Led by Merkel, how does the EU politburo react to the pending economic disaster that is putting their beloved superstate project in jeapordy?
It's no coincidence that as the crisis unfolds the ruling bureaucrats in the European Commission are floating two consecutive regulations. (This is what they do prior to imposing a regulation)
i) Issue each citizen and business of the nation states with a Tax Identification Number (TIN). This is widely regarded as a prelude to pan-European taxation. See here
ii) Compile a Register of Global Assets. The politburo need to know the total wealth residing in the EU, where it is held and by who. See here
Coupling the instinctive totalitarian nature of the socialists that run the EU and the precedent of seizing private wealth to bail out the bankrupt economies of Greece and Cyprus one can see where this is heading.
(Read about the Cyprus confiscation here)
One must bear in mind that the individual nation states already have systems in place to tax their citizens so this means that the power to raise money through taxation will be transferred from elected nation state politicians to un-elected bureaucrats at EU headquarters in Brussels who cannot be removed by popular vote.
One of the foundations of a free society "no taxation without representation" will have been surrendered without consultation and another nail will be hammered into the coffin of liberty, democracy and prosperity in Europe.
Most countries that make up the EU are mired in unsustainable levels of debt, even the supposed economic powerhouses of Germany, Great Britain and France. The drive to build an artificial country with a single currency has already broken the economies of the smaller Mediterranean countries and this, combined with the cost of the mass immigration disaster, is threatening to break the big guns also.
The politicians have spent the economies of Europe, especially the Eurozone, into bankruptcy and abject poverty. The national Treasuries are empty leaving only one remaining source of money for them to pillage, i.e. private wealth.
Totalitarianism and seizure of private wealth under the guise of common ownership for the collective good have been the hallmarks of socialism since it was first codified by Karl Marx. If anyone was under the impression that this failed economic system died with its creator in the 19th century I suggest they watch the actions of the EU politburo and be enlightened.
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