The Real Difference Between Europe and the United States - Hint, it is not "Socialism"

Absurd cable TV pundits rant and prattle about on how Obama is socialist. Uh, not so far. What the Obama administration is doing is corporate welfare.

What's the real difference between Europe and the United States?

In a nutshell they have balls and we don't.

In G20 Protests now going on all over Europe are some hints.

Protesters focused the Royal Bank of Scotland because it was bailed out by the British government after a series of disastrous deals brought it to the brink of bankruptcy. Still, its former chief executive Fred Goodwin — aged 50 — managed to walk off with a tidy annual pension of 703,000 pounds ($1.2 million) — just as unemployment in Britain is at 2 million and rising.

"Every job I apply for there's already 150 people who have also applied," said protester Nathan Dean, 35, who lost his information technology job three weeks ago. "I have had to sign on to the dole (welfare) for the first time in my life. You end up having to pay your mortgage on your credit card and you fall into debt twice over."

When getting screwed over in Europe, people hit the streets and say in no uncertain terms they are not going to take this ripoff from multinational corporations and insolvent, corrupt banks.

Americans sit around wondering when Obama will save us, all the while trillions more are funneled to these insolvent financial institutions.

Also note in the above quote the British tech worker has a social safety net, the dole, welfare, help, assistance, whatever you wish to call it.

In the United States that same tech worker is homeless because someone in dire straights cannot get housing, especially if they do not have young children.

That's the difference. Their countries have a few things that actually help their own citizens and people don't stand for corporatism.

The problem in the United States is not Socialism, it is Corporatism and apathy from the people.

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This is going to be very interesting.

Sarkozy and Merkel are pushing for more financial regulation probably further than the Obama Administration wants to go but political circumstances in Europe may push Gordon Brown to do the same thing.

Link to Story


When I saw the goal of creating yet another "WTO like" structure for global finance regulation, that's when I thought, "another wolf in sheep's clothing".

I think at this point it better to create regulations that are firmly and squarely under national sovereignty and try in addition to have all nations agree what those national regulation laws should be, coordinate efforts but exclusively for each nation-state.

The last thing we need is yet another WTO, more power without Democracy, having multinational corporations write the rules, which is assuredly what will happen.


Huffington and Taleb on CNBC -