A review of history

Most Americans are pleased that they can refinance their homes at incredibly and historically low interest rates. We are certainly thankful for the high value of the U.S. dollar when we travel abroad. Wall Street, U.S. banks, the auto industry, unions, money market account holders — all were too happy for their bailout gift from the U.S Treasury and the Federal Reserve. Our economic system is based upon free markets, yet in the last four years we have had anything but a free-market economy. Once upon a time there was a television commercial that reminded us, "You cannot fool mother nature.”

The same holds true for markets. Distortions, anomalies, bailouts, TARP, etc., are only delaying the inevitable. The U.S. advantage is that in Washington, D.C., at the Federal Bureau of Printing and Engraving, the presses are working 24/7/365 printing crazy money. That cannot be done in Europe because of the eurozone constraints. If the PIIGS were able to print their currencies individually, we would be experiencing hyper-inflation NOW! Thank goodness for the eurozone in this matter.

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Political science and economics are independent disciplines, and we know all too well this is not reality. In the next several weeks France will elect a new president. President Sarkozy has been Chancellor Merkel's puppet, which has allowed Germany to virtually dictate economic policies in Europe.

Please take a moment and revisit your history books to research who actually won World Wars I and II. In reality Germany may have lost the military battles in those wars, but today we live with a Europe that is economically dominated by Germany.