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European Democracy in Peril
As the dust settles on the elections to the European Parliament, a somewhat schizophrenic conclusion is emerging: on the one hand voters expressed their skepticism toward the EU project and rejected,...
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EU Economy Going Nowhere
There is no better macroeconomic “health indicator” for an economy than private consumption. Not only is it the largest part of GDP, but private consumption also reflects well the overall sentiment of...
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Ebola and Socialized Health Care
When government creates a spending program, it also makes a promise to taxpayers. So long as the sum total of those promises is small and government limited to protecting life, liberty and property, we...
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Bad Economic News, Part 1
Yankees baseball legend Yogi Berra coined the proverbial phrase “It ain’t over ’til it’s over”. That is certainly true about the European economic crisis. This past week saw a crop of bad news from the...
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Europe’s Economic Blame Game
Back in college I had a friend who blamed a cut in Swedish government-provided student loans on Moammar Ghadaffi. It was a tongue-in-cheek exercise, of course, designed to prove that if you want to,...
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Flat Retail Sales Confirm Stagnant GDP
Retail trade is one of the better indicators of how an economy is doing. It is an immediate “gauge” of both confidence and private finances of consumers. Therefore, given the overall stagnant nature of...
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Eurostat Confirms GDP Stagnation
European third-quarter GDP growth data is beginning to make its way out in the public. What we have seen so far is just more of the same new normal – the same new stagnated way of life in industrial...
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Job Growth in Spain and Greece
In a couple of articles recently I have noted that Greece and Spain seem to be breaking the ranks of economic stagnation in Europe. While we wait for Eurostat to release third-quarter GDP data, let us...
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More Signs of Spanish Recovery
It is very easy to establish that Europe’s economy is stuck in a state of deep, solid stagnation. As I have explained recently, you have to look carefully to find any exceptions to that rule. However,...
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Europe’s Shortsighted Fiscal Policy
In a few articles recently I have pointed to some evidence of an emerging economic recovery in Spain and Greece. This is not a return to anything like normal macroeconomic conditions, but more a...
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Greece in Peril Again
I spent some time traveling Eastern Europe before the Berlin Wall came down. I have many vivid memories of my trips, such as the very low-tech cars they all were so proud of. But I was also impressed...
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Stagnant Europe Entering 2015
Welcome back to The Liberty Bullhorn – the starting point of economic freedom on the internet! While this year is promising for many, especially Americans who have a steadily improving job market to...
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German Bond Rates Go Negative
The stagnant European economy does not need more bad news. Unfortunately, there is more coming. Business Insider reports: The amazing collapse in German bond yields is continuing. Today, five-year...
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Another Greek Debt Default?
Three years have passed since Greece simply nullified part of its debt. In the last quarter of 2011 the Greek government owed its creditors 356 billion euros; in the first quarter of 2012 that debt had...
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Euro-QE Would Be Big Mistake
How much time does the euro have left? That question was put on its edge last week when the Swiss National Bank decided it was no longer going to anchor the Swiss franc to the iceberg-bound euro ship....
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The New Left and Europe’s Future
Only a couple of days after the European Central Bank raised white flag and finally gave up its attempts at defending the euro as a strong, global currency, Greek voters drove their own dagger through...
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EU Economic Standstill in Details
Today it is time to review in more detail the latest national accounts data from Eurostat. A disaggregation of the spending side of GDP reinforces my long-standing statement: the European economy is in...
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Greece Closer to Euro Exit
There have been many attempts at predicting which way Greece is going to go under the new socialist government. Most of the voices heard thus far seem to agree that Prime Minister Tsipras will not seek...
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European GDP Disappoints Again
After a delay with its national accounts publications, Eurostat has now caught up. Fourth-quarter numbers are beginning to sip out, with the following press release last Friday: Seasonally adjusted GDP...
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Socialist Momentum in Europe
The answer to the question whether or not Greece will stay in the euro will probably be given this week. New socialist prime minister Tsipras is not giving the EU what it wants, jeopardizing his...
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