Robert Wenzel discusses the profligate spending, excessive debt, and resentful bailouts plaguing the European Union; why the European Central Bank will soon begin printing money as furiously as the Fed (since the other option is defaulting on bank-owned debt, which can’t be allowed); why gold will quickly revert to the default currency when worldwide inflation runs amok; the inordinate number of wealthy individuals in tax-feeding Washington DC; how the Social Security deficit drastically lowers the demand for treasury bonds; and whether massive military cuts would depress the domestic job market or begin a post-WWII type boom.
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