One reason the stock market is crashing his revised expectations about payoffs from investments in businesses because of much higher public debt crowding out in supply of investment funds and the looming prospect of higher taxes to repay all the emergency borrowing
There are several reasons why I’m glad that there are Europeans.
From a serious perspective, the decentralized and competitive states of Europe gave us great gifts such as the rule of law, the enlightenment, and the industrial revolution.
From a policy perspective, today’s Europe gives us examples of policies to emulate and policies to avoid (and also confusing mish-mashes of good and bad policies).
And from a comedic perspective, it’s generally still okay to make fun of Europeans – even if it (gasp!) involves stereotypes.
- Such as this cartoon involving Greece.
- And this terrorism-alert humor from the U.K.
- The French get mocked in this cartoon.
- Here’s a video showing that Der Fuehrer is unhappy about the downgrade.
- We have some very funny maps showing how various countries view their European counterparts.
- And, for those who like dark humor, this list of European leaders denying that the fiscal crisis…
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Utopia, you are standing in it! 
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