Europe's Never-ending Crisis

For the past four years the world has watched as the Euro Zone countries have careened from one financial crisis to another.  Each time the debacle of the day is papered over with yet another patch involving either more printing of euros, forced austerity budgets, or in the case of Cyprus (but eventually destined to occur in Spain and Portugal) the seizure of bank assets (i.e. deposits). But these so-called fixes will never solve the problem as long as there is a death wish to maintain the euro as a viable currency regardless of the consequences.  These nations can continue to shuffle the deck chairs on the Titanic only so long before the ship hits the iceberg. The underlying problem in most countries is Europe is that their economies can no longer generate wealth and job creation.   These nations do not have viable manufacturing or service sectors.  Instead they are overwhelmingly consumption oriented, importing not only fuel but many consumer goods from...(Read Full Post)