Brian McLane

Media and Social Commentary

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ECONOMIC UNION – IT’S A GOOD THING?

August 30th, 2011 · 2 Comments · Social Commentary

One of my favorite scenes from The X Files “Musings of a Cigarette Smoking Man” is when The Smoking Man is sitting around with his operatives at Christmas wrapping up business for the year making decisions that affect humanity, deciding which governments would fall, who gets assassinated, that the Buffalo Bills never win the SuperBowl.

Just like Gene Roddenberry was visionary in his appraisal of the future, I have to wonder if Chris Carter had the same type of insight which conveyed to us through his lens.

This morning my wife received a text message from Chase saying they were waving all fees during the period Hurricane Irene was and may still be causing problems. I suppose in the words of Martha Stewart, that’s “a good thing.” I hate Chase. Though I don’t loathe them as much as, say, Bank of America. They’re the best of the worst.

It doesn’t take a finance major to understand that economic unions don’t work. In the mid 1990’s when the seeds of our economic woes were sowed, Bill Clinton and Al Gore promised us that NAFTA would be “a good thing”. I remember the unions practically calling for people to come out and riot.

Turns out we should have listened. The auto industry was nearly left for dead until “the coincidence of catastrophe” (my term, see previous post), hit Toyota. Don’t be fooled by the debt driven bailout. Union jobs are still being shipped overseas in droves.

Now this morning comes news that The Germans are fed up with Angela Merkl’s pushing for the massive purchase of Spanish and Italian debt. Ask the people in Ireland (at one point the posterchild for economic growth and prosperity in Europe) about the European economic union. Ask the people in Greece too.

It’s interesting to note that England never signed onto the scheme. But it’s clear in hindsight that the implementation of the Euro seems to have more people up in arms than not.

Nevertheless the powers that be seem intent on cramming it down the public’s throat. The banks seem to be continually raking in record profits. So what are we to infer from this.

They told us it would be “a good thing.”

And the king has no clothes.

Economic Union It's a Good Thing?

Click to see the future of Economic Unions

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