The Problem with the “PIIGS”

by Ryan on February 15, 2010

in Europe,International Relations,Politics,Tyranny

If you haven’t heard about the acronym “PIIGS” yet, I’ll let you in on it:  PIIGS stands for Portugal, Ireland, Italy, Greece and Spain — countries in the European Union on the verge of economic collapse.  Of the five nations in trouble, Greece is the closest to collapse and the youth in the streets have made their ire known for a while now.  In fact, Germany is mulling the perhaps necessary bailout of the small Mediterranean nation which is about to default on its national debt and shows no signs of changing its behavior.  About 67% of Germans don’t want to do it.

The problem is, of course, big government.  Many European governments have promised too many goodies to their nanny state constituents over the years and the bills are coming due.  To paraphrase the great Margaret Thatcher:  the problem with socialism is that eventually you run out of other people’s money.  The EU PIIGS are running out of money (and are asking for other nations to bail them out), are in too much debt to spend their way out (that’s the phase we’re currently in), and have choked their youth into finding no alternative than low-grade street violence.

Why we should worry about the PIIGS was the topic of Glenn Beck’s show last Thursday.  The Obama Administration has chosen the path of structural deficit spending along with the expansion of the American nanny state –  that will not end well.  We need only look to the PIIGS to foreshadow the problems of an unchecked Liberal government here in America.

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