Portugal has asked for help from it's richer neighbours within the EU. The Socialists have wrecked another economy in Europe.
The failed promises and broken dreams that Socialism historically begets leaves economically savvy regimes having to pick up the pieces. Again and again and again.
Unless we can overthrow the miseries of Fractional Reserve Banking and Fiat currencies, we're always going to be working within a system of credit, debt and compound interest. As that is the framework we're stuck with, fiscal and individual economic wisdom is required.
Go back to basics. Do not spend money that you do not have. If you need more money; work harder, work longer, work smarter.
There is no magic potion that will make a nation or an individual wealthier other than taking money away from other individuals and nations. The magic money tree of "Quantative Easing" leads to stagflation, greater poverty and misery.
Promises of milk and honey always get the electorate onside. The electorate have been educated by the powers that be to accept that debt is ok. That taxing and spending are ok. That there will be no more boom and bust. Economies and empires, like nature are cyclical. Smoothing out the crests and troughs is the key to long term economic growth.
Creating work for paperpushers, boxtickers and bedwetters is not an option. Fiddling the unemployment figures via non-jobs and encouraging unsuitable candidates to get a degree is not an option. A nation needs to manufacture, export and take commission for providing services.
Socialism always runs out of other people's money.
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