Here's the Nonsense: Cyprus has problems, but it's because they're a small country and can't handle these types of economic situations.
Here's the Horse Sense: Cyprus is only the beginning. Now it's planned that other European countries will follow the same plan. America's put itself on the European path and will follow suit before it's all over.
If you think this week's announcement by Cyprus that they are taking a portion of bank depositor's savings is unique to that country, think again. It's coming to America whether you like it or not.
Cyprus, like so many nations, is in financial trouble and its banks have closed temporarily to try to get things in order. That has left the citizens without access to their money while the government tries in vain to fix the problem. London's Telegraph reported: "Cypriot finance minister Michalis Sarris warns the country faces hard times and said large depositors could lose up to 40pc of their savings as banks stay shuttered until Thursday." That's a potential 40% for those with savings over 100,000 Euros (that's about $127,800). How would you feel if you lost 40% of your savings? Yet it is happening while we watch in Cyprus.
Now most people will say that Cyprus is a tiny country and that it couldn't happen in bigger countries. Really? In a separate article the Telegraph reported: "Savings accounts in Spain, Italy and other European countries will be raided if needed to preserve Europe's single currency by propping up failing banks, a senior eurozone official has announced."
Now what do you think?
The inability of mankind to handle its finances is obvious. The path that Europe has taken through socialist policies has torn its economy to shreds and will ultimately cause more financial despair and devastation than has been previously seen. Don't be surprised if we see a return to what happened in the Weimar Republic, and it won't just be in Europe.
America has placed itself on the exact same path as Europe by copying their stupidity and failed policies. Pouring trillions of taxpayer dollars into a system that is so devoid of any moral compass, let alone logical economic thinking, is driving America down the same road. Sure, we might have a little more time, but "little" is the key word in that statement.
The chances of turning America around are very small. It may actually be too late. We've embraced moral decay like it was the greatest thing in history. And that is the sign that a society is failing. Ethics are redefined to be politically correct. That leads to other bad decisions that erode the stability of a society. And in the name of political correctness America has embraced ridiculous and unsound economic policies that are its result.
America, you've got one last chance to save yourself. But are you willing to pay the price necessary to do it? Are you willing to give up your failed ways and turn back to sound values and principals, the ones that made America great in the first place?
The Horse Sense Blog compares the nonsense in today's news with good ol' fashioned horse sense
“…I shall speak forth my sentiments freely and without reserve.… It is only in this way that we can hope to arrive at truth, and fulfill the great responsibility which we hold to God and our country. Should I keep back my opinions at such a time, through fear of giving offense, I should consider myself as guilty of treason towards my country, and of an act of disloyalty toward the Majesty of Heaven, which I revere above all earthly kings.” - Patrick Henry, March 23, 1775
"The further a society drifts from truth the more it will hate those who speak it." - George Orwell
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