A New Port Emerges for Global Investors - WSJ.com
Neither Europe nor the US want to change union and labor-centric policies that encourage early retirement, high taxes and are anti-business and anti-investment.
They all want growth and look to Central Banks printing money to support the growth these countries also want.
Growth takes capital and entrepreneurship and fairly priced inputs of labor and raw materials.
Because union labor wants high salaries and benefits, it doesn't mean the businesses or economy can support them. And, entitlement societies don't encourage people to get educated or to go to work.
The US is borrowing 42% of every Federal dollar spent and a leading Democratic senator is on Bloomberg complaining of suggested Republican cutbacks in entitlements. His last name didn't sound Greek but his policies sure sound Greek.
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