The topic covers material discussed in my earlier post, “A Beautiful Mess” and this week’s Spengler essay on Italy as a theme park.
See Spengler? PJM has made you a TV star!
Now you’ll just have to keep the groupies away….
Much as I love Pajamas, I’ve been doing Kudlow’s show for four years. Larry and I go back a long way.
Also, when is Larry Kudlow going to give up on Communist NBC and go to FBN?
I remember reading about ten years ago a French expats comments on why he left France. He said it was a lovely place to live if you were wealthy enough and that it had become a a “Park for the Rich.” If you weren’t “connected” it lacked opportunities.
Loved the article on Italy turning into a theme park (so true) and thanks for letting us know ahead of time about the Kudlow appearance. I think you hit the nail on the head in regards to your argument that Europe’s political elites live off of their countries productive assets. Europe is the most glaring example of what you rightly call crony capitalism. It should be noted that one politician, and really just one, has identified, defined and discussed the economic and moral importance ending crony capitalism. That politician is of course Sarah Palin. Just saying…
Here is the link for the video:
Actually, it sounded much more optimistic than your last pieces, Mr. Goldman. Haircut – recapitalisation of the EU banks – austerity measures of the PIGS or they leave the Eurozone. Seems manageable to me.
Are you familiar with Mark Twain’s INNOCENTS ABROAD?
I was published back in 1870.
He points out that Italy has no governing system. (He claims it was all owned by the Catholic Church. Who never paid taxes. And, all Italians not in the church hiarachy was in the church’s employ. Hence NO TAXES paid to run the government.)
Sure the people were kept poor. AND IGNORANT. (Just like in Ireland. But Italy had the artists from Titan,onward. If course, Titan did NOT “do” a portrait of Shakespeare. Which would have been worth more to humanity than any of the saints and martyrs pictured ad infinitum.)
What is particularly striking of Twain’s remarks is how spot on he is on Italy’s lack of a decent government.
But it took the engineers in Belgium to cook up the Euro.
I have a theory about Italy. Every night, a committee of saints convenes to perform the miracles that are needed for the country to still be there in the morning (Ambrose from Milan, Genarius from Naples, Anthony of Padua, Mark of Venice, and so forth). The strength of this theory is that it also explains Argentina: same Italians, but without the saints.
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