EU is Being Swept into Ronald Reagan's Dustbin of History

Markit Economics warned that its European Union Manufacturing Index dropped from 53.9 in July to 52.8 in August, with the index for Italy dropping below the level of “50”, which means that manufacturing actually contracted. Although the Leftist would like to blame the latest EU economic meltdown on the Ukraine conflict, government spending at over 50% of GDP explains why the EU for the last decade has grown by less than 1% a year.  Within six weeks of the Great December Revolution of 1991 that swept the Soviet Socialist Republics into Ronald Reagan’s dustbin of history, 18 Western European nations “Sovietized” by signing the Maastricht Treaty to form the European Union (EU) and adopt the common euro currency.  The European Union is now the second-largest economy in the world. If it was a country, it would be the fourth-largest in the world with 330 million inhabitants. France, Germany, Italy and Spain are the largest EU...(Read Full Post)