European Banks Tottering
With banks in Europe being downgraded in mass, facing bank runs, and needing trillions in gifts, we are getting a stark look at the consequences of our own policies. Stockton California is working on filing bankruptcy, it is the largest city in our history to do so. California itself, the 9th largest economy in the world, is in no better shape. Nationwide, as well, it begs a question. Will the answer be to centralize power and increase statism, or will we recognize that liberal government policies, central control, and out of control spending have led us to pauper’s prison?
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