Is The Stock Market Up When it Should Be?

The political numbers for Europe are startling. With 23% of the world’s GDP, it foots the bill for 58% of the world’s welfare spending. Clearly not a system designed for sound economic calculation. In 1848, Bastiat observed: “The state is the great fictitious entity by which everyone seeks to live at the expense of everyone else.” Politically motivated bullies seem compelled to keep trying to justify the distortions. Why?

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