The US Can Break Apart Just Like Europe

Monday, May 21, 2012
By Paul Martin

Economicnoise.com
May 21 2012

John Mauldin describes one of the underlying flaws in Europe:

The European Monetary Union was a triumph of hope over reason, pieced together from very dissimilar countries which, while sharing common borders, have very different cultures and economies. That it would eventually face an existential crisis was foretold by numerous critics at the time of its creation. The euro has never been a real currency. It was and still is an experiment, fashioned and shaped by a generation with noble ideas and vision, but tied together by an unworkable structure. Can its foundation be reworked into a solid structure? Or will natural centrifugal forces pull it apart? The difficulties that are faced are somewhat akin to fixing the engine of a jet plane while it is flying at 30,000 feet.

Mr. Mauldin likens Europe to Mary Shelley’s Frankenstein monster, a creation made strictly for the benefit of its creators. But that is the nature of most States and reflects the unease and disjointedness currently being there and to a lesser extent in the US. Europe was truly a collection of parts hastily assembled by a modern day Igor and patched together by the power elite who wanted a United States of Europe.

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