Spanish Bank Bailout A Farce


The Spanish bailout is nothing more than a band-aid for a gushing wound; it won`t stop the bleeding.  Of course the 100 billion euros will help short-term but when it`s spent, it`s gone.  The underlying issues need to be addressed and if they`re not, the eventual collapse of the European Union is all but inevitable.  The Europeans have to change their thinking.  Two months and more of vacation per year is just ridiculous.  Shorter work days and retiring at 55 or 60 is not an option.  Governments do not produce anything or make any money.  They simply take the money by way of taxes and then spend it however they see fit.  So when the 100 billion euros are gone, Spain will be right back in the same predicament except it will be worse.  The Europeans need to take the American model and transform their economy through hard work and reward for that hard work.  Entitlements need to end.  My definition of entitlements is reward through hard work.  You entitle yourself through education, discipline, blood, sweat and tears.  That is how you achieve The American Dream.  This is what is missing from the European mentality and they better change it before it`s too late.

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