- Published on Mar 2, 2013
Read the full description at: http://www.peakprosperity.com/podcast…
From his perch in the United Kingdom, Alasdair Macleod provides an update on the ongoing economic crisis in Europe, which — while largely absent from headlines in the US of late — continues to worsen.
Due to bloated state-run programs and extreme malinvestment, EU governments find themselves in a box. Economic growth has stalled, and no amount of intervention seems able to get it going again. So in order to keep their economies moving forward, they are becoming increasingly rapacious in extorting tax revenues from whereever they can find them.
This, of course, is strangling the private sector — on which the government is counting on to grow the EU out of its recession (or depression, depending on which country in which you live). And so a vicious cycle ensures. Growing taxation reduces economic activity, unemployment worsens, the wealthy expatriate — all leading to a declining income base to tax, and growing civil unrest.