What's the common thread between Europe's financial mess, particularly among the PIIGS (Portugal, Ireland, Italy, Greece and Spain), and the financial mess in the U.S.? That question could be more easily answered if we asked instead: What's necessary to cure the financial mess in Europe and the U.S.? If European governments and the U.S. Congress ceased the practice of giving people what they have not earned, budgets would be more than balanced. For government to guarantee a person a right to goods and services he has not earned, it must diminish someone else's right to what he has earned, simply because governments have no resources of their very own.
A church I visited recently announced a seminar for “financial professionals” who lament their industry’s “fallen ethics.” In 2009, USA Today reported that “the top Roman Catholic bishop in the United States said … the global economic crisis was caused in part by people abandoning personal ethics, and he's calling for increased morality in business.” And earlier this year, Jewish Week lamented that “financial scandals have become a fixed component of our civilization” after opining, “If current trends [in cheating] continue, the Wall Street gang of 2020 will make the slithery coterie of 2008 look like a Cub Scout pack in comparison.”
Drop what you’re doing. I mean it. Stop whatever it is that you’re doing and go online to find out when the next showing is. Take a friend, go alone, doesn’t matter. Moneyball isn’t about baseball. No way. This is about taking a chance, taking a risk, putting it all on the line. This is what it feels like to try to (and succeed in) overthrowing the existing order of things. It’s about finding out not only who your friends are, but how it feels to be alone.
“Middle-class families shouldn’t pay higher taxes than millionaires and billionaires,” repeatedly proclaims President Obama, arguing for his proposed $1.5 trillion tax increase over the next 10 years. “That’s pretty straightforward. It’s hard to argue against that.” In fact, Mr. Obama’s statement is anything but straightforward and not hard to argue against.