HONOLULU, July 6, 2015 – There is irony in the fact that Europe’s namesake stems from a Greek myth of a fair woman being carried away on a bull representing the god Zeus in physical form. Getting “carried away” with power is a recurring chronic disease throughout Europe’s 45,000 years of human history, and the ongoing Greek debt crisis — along with the Eurocrisis as a whole — is a perfect case study in why socialist dreams of “one currency and one government to rule them all” only ends in total collapse for all.
The outspoken UKIP leader and member of European Parliament Nigel Farage repeatedly warned for years that the Eurozone would result in greater divisions between north and south and “crush, and kill, and destroy nation-state democracy.” In Greece, voters are finally awakening to the cold, hard fact that their national government can only support so much domestic socialism with international credit manipulation before the rest of Europe starts screaming for them to take so-called “austerity” measures.
In the Heritage Foundation’s 2015 Index of Economic Freedom report, Greece was indexed at having public expenditures equal to an unbelievable 58.5 percent of domestic output. This kind of public “benefit” may seem “free” to local politicians and the voters who elect them, but “free” in this world only means someone else is paying for it … for now. Rule number one in dealing with the devil is never do it in the first place, because long-term penalties for short-term revelries are always unbearable to pay. The inconvenient truth is that, if Greece does not pay, someone else will until the banks get their pound of flesh or the governments they control collapse.
In spite of all this, European socialists and their elitist academic-political disciples in the United States are still convinced that they can force the world into a giant plantation, making every effort to strip away individual autonomy and national sovereignty as they erect a manager’s mansion in the shape of a global government to oversee it all. Yet no one can shortcut economic reality, for, as Ludwig von Mises wrote, “There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.”
Neither the Eurozone as a whole nor Greek voters have seen the end of this crisis yet. The more politicians attempt to entrench their positions by promising false hopes to desperate populations, the more central bankers and the governments they own play their shell games, the faster and harder the system will come crashing down, violently. Control of markets and credit is playing with fire, and Europe’s war-littered past is a testament to the potential end results of this dangerous game.
Just as the fictional investment banker Will Emerson of the 2011 movie “Margin Call” warned, “The only reason that they all get to continue living like kings is ’cause we’ve got our fingers on the scales in their favor. I take my hand off? Well, then the whole world gets really ‘fair’ really quick and no one actually wants that. They say they do, but they don’t. They want what we have to give them, but they also want to, you know, play innocent and pretend they have no idea where it came from. Well that’s more hypocrisy than I’m willing to swallow.”
British politician and long-time euro-skeptic Nigel Farage was right. The European project, along with all of its perks and rewards, is a global disaster waiting to happen, and the faster Europe’s people commit to restoring free markets and running away from the new Tower of Babel, the sooner they can real prosperity and peace again. One can only ride the beast for so long before being devoured by it.
Dr. Danny de Gracia is a political scientist, an ordained minister, a former elected official and the author of the new political thriller, “American Kiss,” available from Amazon.com.