Tuesday, April 30, 2013

And In Economic News...and Greek Philosophy

Business activity, as measured by the MNI Chicago report, shrank to a multi-year low.  Need I mention this occurred "unexpectedly"?

European unemployment rises to a record 12.1%, an official statistic which, like here, understates actual unemployment. 

Just a quick comment: The European Union and the social welfare state model followed to varying degrees,  but universally nonetheless, in Europe was designed to reduce income inequality.  The ostensible purpose was to preserve the social fabric, as inequalities tear at the social fabric, or so lefties tell us.  How is that social fabric holding up in Europe these days?

Plutarch vs. Aristotle.  Who's winning?  Europe is very rich.  It is not a heinous, immoral inequality that is wracking Europe.  It is the plundering of the productive sector.  It's Aristotle hands down.


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