In response to:

Why The EU Economic Disaster Is "The Black Box" For America

Daniel30 Wrote: May 22, 2012 5:57 AM
The important lesson is to learn why Europe's the banks mustn't be allowed to fail and no government's ability to loan should be taken off the credit wagon failed, which Iceland's let the banks face bankruptcy and let the government start over has worked. The way ahead is to allow bankruptcy, dissolving of failed corporations, auctioning of remaining assets, and getting assets into economically efficient managers rather than to reward cronies close to government power. Economics begins with competition and efficiency, being economical. Not with political power and patronage.

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...