1932 and 2012, Worlds In Crisis

In this very good piece in Britain’s The Daily Mail a comparison between 1932 Europe and 2012 Europe is made. As during the Great Depression many Europeans are now quickly losing faith in their governmental institutions. The EU is a mess. British leadership is not leading. There are riots in the streets. Many people are afraid. Fear makes people do stupid things.

An Illustration of a "Working Man" in Red Towering over a Round Table of Men in Suits and Top Hats As Well as Nazi Soldiers and Adolf Hitler—The Text reads "KPD Liste 3: Schluss mit diesem System" in German or "KPD List 3: An End to This System" in English

That is to say nothing of the situation in the United States which is not exactly rosy. Though we are not starring directly into the abyss at this moment like Europe is, this could change quickly.

Add that China is slowing at a breathtaking pace. Beijing housing prices are in freefall. In October housing prices dropped by 30%. In November 35%. The auxiliary economic engine of the world is more than sputtering, it may be failing.

Add these things up and the world does not appear to be in recovery at all. What we likely are seeing is the beginning of the hangover from the massive Keynesian “hair of the dog” infusion of the past 3 years.

Hold on. As if the past 3 years haven’t been exciting enough, things are likely get even more “exciting” in 2012.

Happy New Year!

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About Nick Sorrentino

A Photo of Nick Sorrentino

Nick Sorrentino is the co-founder and editor of AC2NEWS.com and AgainstCronyCapitalism.org. He is also the founder of TheSorrentino.com. A political and communications consultant whose clients have spanned the political spectrum, his work has been featured at Chief Executive MagazineReason.com, NPR.com, Townhall, The Daily Caller, and many other publications. He has spoken at CPAC, The Commit Forum, The Atlas Summit, The US Chamber of Commerce, The National Press Club, and at other venues. Sorrentino is the Founder of Exelorix Consultants and a senior fellow at Future 500. He is also the author of the book Politicos, Predators, Payoffs, and Vegan Pizza. A graduate of Mary Washington College he lives just outside of Washington DC where he can keep an eye on Leviathan.