Wed, 1 June 2016
No that is not a misprint. The French government is trying to combat stubbornly high unemployment by reducing regulation and making the country more business friendly. How have the French unions responded? Listen to today's episode for all the details.
We're also going back into Venezuela to see how things are progressing there. It turns out, inflation is so high you now have to carry around backpacks full of cash to pay for cab fair.
I remember reading about Germany after world war II and imagining what it must have been like to have to take your paycheck home in a wheelbarrow or demanding to pay for a meal before you ate because you knew the prices would have gone up by the time you finished eating.
They say history repeats itself but as a child, reading those stories I could not imagine anyone would make the same mistake again. How could you? You know what caused the crisis; you understood how to prevent it. How could you possibly make the same decisions again?
It turns out people have short memories and the allure of a leader telling you that he can solve your problems by paying you more than you're worth, and controlling prices are too much for most people to resist. We see it even now in our own country where millions of people support a man who promises free college, free health care, a garenteed minimum wage and the punishment of "greedy capitalists."
What shocks me is we have a living case study in Democratic Socialism happening right now, and our own media is ignoring the fact that one of our presidential candidates is advocating we travel down the same road.
It's ugly out there, and I fear it's only going to get worse. The next financial downturn is coming, and America isn't ready for it. Hunker down, we're in for a rough couple of years.