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Europe

In Defense of Brandy

President Obama showcased his ignorance of world political history at the G-20 summit in London recently when he made a crack at his political predecessors’ penchant for back-room brandy sessions:

Well, if there’s just Roosevelt and Churchill sitting in a room with a brandy, that’s an easier negotiation. But that’s not the world we live in, and it shouldn’t be the world that we live in.

I realize that every generation likes to think of itself as unique and facing problems their ancestors did not. It’s the easiest way to excuse failure. No one will blame a world leader for poorly handling a challenge that the world has never seen.

Icelanders Storm Central Bank

Anti-government and bank rage reached a boiling point Monday in the small island nation of Iceland, where residents have seen unemployment and inflation skyrocket following the fall collapse of the Icelandic banking system. Iceland, a nation recently prided as a great example of the “Scandanavian Model” of a prosperous welfare system, has in a matter of months been transformed into the least politically and ecnomically stable nation in Europe. The International Herald Tribune reports below-

A Message From Europe: Don’t Make Our Mistake

Eline van den Broek of the Netherlands sends a warning from across the pond:

H/T: Cato @ Liberty

Obama: Making the Bad Seem Good Again

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It takes a cartoon version of Joe Biden to say what we all know to be true: when Bush said it, people rolled their eyes, but when Obama says it, they faint, chant and scream.

Iceland on Brink of Bankruptcy

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This is just one more example we are in the midst of the most significant crisis in a generation. How this plays out nobody knows for sure. The only thing we can safely guess is that there will probably be more centralization around the world with nations and central banks escalating attempts to “fix” the economy through non-market forces.

 

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