American Elephants


It May Take a Bit of Time for the Panic to Subside by The Elephant's Child

Britain’s stock market had erased all of its BREXIT panic losses, fueled by as surge in energy and financial shares. It had slumped 8.7% after the vote to leave the EU. May be more ups and downs as investors absorb the uncertainty about how it will all turn out. Markets don’t like uncertainty.

The President of the E.U. Parliament, Martin Schultz, got all huffy. “The British have violated the rules. It is not the #EU philosophy that the crowd can decide it’s fate.”

Europeans have never understood and never liked Democracy. They have been ruled by Kings and Queens and Dictators and the Church— and allowing the people to decide is mostly unthinkable. I have particularly liked Matt Ridley’s suggestion that when the individual is free to think and create and experiment, you get ideas having sex. Ideas build on other ideas. A new picture, someone else’s new idea may spark something completely different. “Having sex” is as good a way to describe it as any. What kills creation is regulation. The more stoppers a government erects, the less innovation.

Did you wonder why we never seemed to recover from the 2008 recession? The growth of government and the proliferation of regulation, especially on small business, which is where much innovation is hatched.

Few other countries have ever had the free markets and free people that  have traditionally been found in America. And then there is Switzerland. (click to enlarge)

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Brexit: The Movie. Explains the Tyranny of the “Experts” by The Elephant's Child

The markets are in turmoil. They just don’t like uncertainty at all. They may be confident of their own positions, but what about the other guy? This movie is quite wonderful, do watch.

The Presidents at the EU are furious. There are several — four, I think, heading up different commissions. All are unelected and the Members of the European Parliament have nothing to say about them, nor about their pronouncements. They are so indignant that they want to morph all the member nations of the EU into one giant Superstate, run by themselves, of course.  The Europeans have never liked Democracy. They are loath to give away any power.

The foreign ministers of France and Germany will reveal a blueprint to do away with individual member states in an “ultimatum.” Under the proposals, EU countries would lose the right to have their own army, criminal law, taxation system or a central bank, all those powers would be transferred to Brussels. This is going to be remarkably interesting.

Fredrick Forsyth (yes, that Fredrick Forsyth) has a long article explaining how the EU came about in the wake of the devastation of Europe after two World Wars. It’s worth your time to understand what’s going on in the present. Well, history is littered with bad ideas that promised a brighter future — the Thousand Year Reich was one of them, you can probably come up with quite a few others.

(Thanks to Maggie’s Farm for the link)




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