Posted Sep 23, 2016 by Martin Armstrong
Merkel admitted that the European Union is in a “critical situation” as the EU leaders met in Slovakia. I greatly appreciate all the emails asking why I do not go to Europe to push our solution to save the continent. But what you have to understand is we will ONLY get a call when there is blood on the streets and there is absolutely no other choice. I am not sure we could do much at that late stage in the game. Typically, you have to just capitulate in order to reverse the trend.
As we move into 2018, Europe is going to go through some very hard times. This is all being caused by bureaucrats in Brussels who are not willing to give up their pensions and jobs. They found the promised land for themselves and are determined to hold on til the end. Former Greek Finance Minister Yanis Varoufakis is now calling for “a pan-European movement of civil disobedience and state that grows into a broad democratic opposition to the actions of the European elite at local, national and at EU level.”
However, the framework is just not functioning. The bureaucrats are trying to regulate everything and refuse to realize that they are responsible for BREXIT. They have become Byzantine and are killing the economy. British economic growth peaked in 1973 on an annual basis and has been declining ever since it joined the EU. The movie “BREXIT” was an excellent review of EU regulation to the point that they took away British fishing rights in their own waters. What if the government say you were not allowed to walk into your backyard, but everyone else could?
The Polish Prime Minister came out and plainly said, “The EU has to change, we have to reform it.” But Brussels refuses to change or ever concede defeat from their dream of an authoritarian power over Europe. This one-size-fits-all approach is destroying Europe. The EU has been doing nothing but defending its insane policies since 2008 when the euro peaked. The high in Europe came exactly on time with the ECM Wave on the EU.