Governments sometime get carried away. Do whatever it takes becomes the cry. The Biblical admonition that the end does not justify the means is forgotten.
The crazies take control.
The European Union has screwed up Europe. Many of its member countries are in dire economic shape. Like Greece, Italy and Spain. Germany is in good shape. However, if the debts of other nations are not paid, Germany will go down the tubes because a considerable amount of German monies are being loaned out through the European Union’s bank.
The internet has been afire the past 24 hours with news that Italy was going to include drugs, prostitution and smuggling sales in its Gross Domestic Product (GDP) calculation this year. The inclusion of the underground monies would help the GDP to relieve budget deficits.
Italy is going to cook its books to make its financial statement look better!
How Italy will be able to tax these illicit dollars confuses me. We are talking about the illegal. Dope traders, hookers and smugglers are going to set forth their earnings on tax returns? No way!
At this point, you are probably thinking…..Stupid Italians! No, stupid European Union!
The European Union and its bank have been having difficulty for years getting their loans paid. The European Union began considering new rules and regulations last July. The rules, etc. were finalized in January. The new rules require member nations to include in their GDP all activities that will produce more in their national accounts, REGARDLESS OF THEIR LEGALITY. Included is income from drugs, prostitution and smuggling.
Desperate people do desperate things. Desperate countries do desperate things.
Spain jumped on the band wagon in January when the new Euro rule was passed. Italy is getting into it now and will be following the new rule as of October 1.
It is not Italy that is crazy, it is the European Union and its bank. The European Union is both worried and greedy re monies it lent. They want to get paid back at some point. In order to do so, its member nations must have attractive balance sheets so the Euro Union can work its its internal machinations.
Such stupidity! The prelude to failure of this thing called the European Union over the next ten years. A house built on sand cannot stand.
Lets bring this absurd scenario down to the Key West level. Little Key West.
I was sitting at the bar at Don’s Place yesterday afternoon for a couple of hours. The realtor was showing my house again and I had to get out. I was thinking about what I subsequently wrote here. I glanced down the bar and it hit me…..These guys could do as well as the Euro people in resolving the European Union financial crisis. Perhaps better.
Enjoy your day!