Sending Money to the EU Would Be Idiocy

Open e-mail to Rep. Neugebauer:

Randy,

The European Union (EU) is collapsing economically. With its economic collapse, it will return to an earlier form of Western Europe. Namely, individual countries, with individual currencies and national governments.

The EU's impending collapse is a result of individual member governments giving more money to their citizens, than they have collected by taxing productive individuals and enterprises. The individual citizens have no desire to give up their pensions and other government benefits and strongly resist any governmental efforts to make such reductions. Cite the riots in Greece. While tax cheats are prevalent, particularly in Italy, the likelihood that governments can obtain significantly more revenue from taxes is remote. Traditional bankruptcy is imminent for the EU as a whole and many of the individual member countries. And, when I say traditional bankruptcy, I don't mean the standard weasel wording bankruptcies of Chapters 9 and 11 in the US. I mean "out of business".

There has been talk of a US bailout of the EU. This is not only ridiculous. It is downright idiotic. The US suffers from the same disease as the EU, but at a slightly lower level, and it is anticipated that it will catch up and will eventually take its turn on total bankruptcy. Attempts to cut US government expenditures have been futile, and we are already deeply in debt. How can any rational person think that by our borrowing more money to give to the European Union, for a temporary relief of their problem, will solve anything?

We must take notice of what has happened to the EU and watch its fall. Perhaps we can learn something from the observation and take some real action so that we do not follow the same route.

There has been talk that if we don't increase our own debt by borrowing money to give to the EU, it will negatively impact our own economy through reduction of our exports. Think of it in practical terms. We should borrow money to give to the EU so that they can give back our borrowed money and take our manufactured goods in return? What kind of logic is this? Why stop there? Why not give money to the Russian government so they can pass it on to their people, who will buy our skis and snowmobiles?

What happens when no one will lend us any more money to give away? Or even when no one else in the world has any more money? We then revert to the Middle Ages, when there was no economic or technological progress. There are more people in the world now and more people available to starve to death, as they will be unable to buy food or produce their own.

Let's get off this idiocy and return to free-market trading, which has existed for thousands of years. You sell goods to people, if they have the money to pay for them. Without money, don't sell and they do without. It is only in the modern concept of idiocy that one could dream up the idea of giving someone money so that he can buy your goods.