Europe is on the verge of economic collapse. And, it matters to every American. If the EU breaks apart, your life and that of your children and grandchildren may never be the same.
When an airplane crashes and hundreds die, the first thing done is to recover the black box that holds the answers to what happened. Analyzing that disaster will help prevent a future tragedy. The financial tragedy unfolding now in the EU is America’s “Black Box.” If we learn the right lessons from the EU tragedy, we can save the U.S. economy and make life better for current and future generations of Americans.
Unfortunately, it’s too late for most EU countries. Their many years of socialist policies leave no option but an economic collapse of massive proportions. Generations of Europeans will suffer. But, it might not be too late for us if we study the black box and learn from Europe’s tragedy.
More on that later. First, let’s look at why the EU economic crisis matters to you. Some of you are saying, “I live in America. Why should I care about Greece? Why should Spain’s problems matter to me? Why should I give a damn about what happens in Italy?”
Let me tell you why what happens in Europe greatly affects every American.
Think what happens when a small business loses its biggest customer. Step one is to lay off employees. If the loss is big enough, the business can’t pay its bills. If you are an employee of one of those businesses you are now in the unemployment line. If you are an owner not only are you in the unemployment line, you are probably also in bankruptcy court losing your home and everything for which you’ve spent a lifetime working.
Well, the EU is America’s biggest trading partner. Any crisis or depression in the EU will badly hurt U.S. businesses. Jobs will be lost. Businesses will fail. Budgets will be slashed. Tax revenues will plummet. We’re staring at a huge economic haircut and headache. At best, the EU’s collapse will damper the U.S. economy. At worst, it could plunge us into another Great Depression.
That’s why you should care.