Fareed Zakaria Asks 'Is Democracy Part of Europe's Economic Problems?'
CNN's Fareed Zakaria asked a question this weekend guaranteed to raise some eyebrows not only on both sides of the aisle but also on both sides of the Atlantic.
On the program bearing his name, Zakaria amazingly asked Sunday if the economic problems in Europe are caused by democracy and not austerity (video follows with transcript and commentary):
FAREED ZAKARIA: Everyone is looking at Europe these days as economic and political protests mount across the continent.
The downward spiral has produced a great debate about the virtues of "austerity," the idea that governments with large budget deficits must reduce these deficits -– mainly by cutting spending. If they don't get their budgets in order, so the idea goes, they won't be able to borrow money and will face a fiscal nightmare of ever-rising interest rates.
The problem is that as these governments cut spending in very depressed economies, it has caused growth to slow even further -– you see government workers who have been fired tend to buy fewer goods and services, for example -– and all this means falling tax receipts and thus even bigger deficits.
Sadly, Zakaria once again ignored that these countries also raised taxes to try to balance their budgets, and the mixture of higher taxes and reduced spending is what further damaged these economies.
Unfortunately, the spending-loving media in America are routinely forgetting to mention this important component of European economic policy as they bash austerity.
Zakaria even cited one of our most dishonest economists to further prove my point:
ZAKARIA: So, economists like Paul Krugman urge: abandon the austerity program, spend more and get budgets in order once the economy has recovered. The problem, in the mind of Keynesians like Krugman, is that European elites, particularly in Germany, have embraced the wrong economic doctrine.
Typical left-wing nonsense. But next came some eye-opening sanity:
ZAKARIA: Now, having been in Europe briefly earlier this week, I don't think Europe's elites -– especially German elites -– have really embraced some alternative view of economics. Most do understand that cutting spending during a recession slows down the economy further.
But here is what motivates them: They don't believe at all that any of the governments in question would ever get their budgets in order once the economy recovered. They believe that many of these countries in trouble have economies that are uncompetitive, hobbled by bad regulatory and tax frameworks and also by large and inefficient governments, with ever-increasing entitlements doled out to their citizens. The crisis provides an opportunity to start wholesale reform. Markets have signaled that they will not lend to these governments unless they take measures to get their houses in order, so this is a golden opportunity to get this reform process going.
Many Germans and northern Europeans I have talked to do seem to understand that, economically, the smart thing to do might be to spend now and to cut later. But many in Europe, especially in Germany, believe that later will never come.
Exxxxxactly!
And this is why conservatives in America don't want to cave to further stimulus now because the Democrat promise to cut spending once the economy improves never happens.
Instead, just as has happened after Obama's massive spending increase in 2009 and 2010, those levels become the new baseline from which future budgets are calculated.
Any cuts to that level are considered Draconian as well as inhumane and are therefore lobbied strongly against by the Left and their media minions typically including Zakaria.
But on Sunday, the CNN anchor offered a different take:
ZAKARIA: In reality, governments spend in bad times and then spend more in good times. So the disagreement may not really be over economics, but over politics.
This is a sad state of affairs because what many people are worrying about, at root, is whether democracy has become part of the problem. After all, politicians have gotten elected over the last four decades in the West by promising voters more benefits, more pensions and more health care. The question is, can they get elected offering less?
That's what stops many Europeans from abandoning austerity and embracing another round of stimulus spending. And I think these worries are shared by many in the United States as well.
Exxxxxactly!
But is democracy the problem in America or a liberal media that makes fiscal sanity impossible?
Consider what happened in 2005 when President Bush proposed Social Security reform and the Left along with their media minions shamelessly misinformed the public that the entitlement program was financially sound for decades to come and wasn't in need of repair.
As a result, Bush and his Party caved to the pressure, and seven years later we find out Social Security will go bankrupt in 2033 if we don't make serious changes to it.
Consider, too, how the press dishonestly report even a slowing in the growth rate of a program as being a cut to that program.
And whenever anyone on the right offers a solution to our budgetary woes - Rep. Paul Ryan (R-Wisc.) for example - he or she is savagely attacked by a media hellbent on blocking any real spending cuts.
So don't blame democracy, Mr. Zakaria. Blame your colleagues who are regularly doing everything in their power to undermine it.
- Noel Sheppard's blog
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Comments
HA HA HA HA HA HA HA HA
Submitted by liberalsarefunny on Sun, 05/13/2012 - 10:44am.
Another liberal reveals himself....
Of course it is, Freak!
Submitted by Newsbubba on Sun, 05/13/2012 - 10:52am.
Democracy and freedom of individuals is the cause of ALL the problems in the Fluking world ... to a RBFSOB.
It means that people don't have to let you and your "elite" buddies run their lives for them, and end their lives when you decide it's time.
How inconvenient for you!
Perfect name for his show...
Submitted by bigdaddy on Sun, 05/13/2012 - 10:54am.
"Fred Zakariah GPS".....What's that? Really? It doesn't stand for Great Pile of
Sh*t? Well, an honest mistake.
"This is a sad state of
Submitted by Bettendor on Sun, 05/13/2012 - 11:05am.
"This is a sad state of affairs because what many people are worrying about, at root, is whether democracy has become part of the problem. After all, politicians have gotten elected over the last four decades in the West by promising voters more benefits, more pensions and more health care."
Maybe those same politicians shouldn't be promising all of these benefits then if they know the country cannot afford them. Besides, if you want an alternative to democracy, such as, oh, I don't know, communism, we saw how well that worked out.
our Madisonian constitutional system
Submitted by Paarl on Sun, 05/13/2012 - 6:16pm.
has the answer to this issue of pols promising all goodies to get elected....that is a federal government with specified limited powers and all others left to the states (and the people)....that is if Mass wants to offer universal health care...go right ahead....the same with Hawaii etc...if Texas wants a market driven health care sector...be my guest. Also the states must balance their budgets for current operating expenses (they borrow for capital projects) so they cannot go out on the limb and brrow and print currency to pay for promises that are out of line....Our constitutional system if properly applied has the necessary answers.
Reading about the German election today..it seems the German staats can borrow much like a national government....the Rhineland staat is 180 billion euros in debt....
Paarl of Rhodesia
Obama just LOVES him
Submitted by Texndoc on Sun, 05/13/2012 - 11:06am.
Because in the end Fareed thinks Obama should operate as a dictator and the opposition be abolished. Presto-chango!
In a way he's right
Submitted by wizardjr on Sun, 05/13/2012 - 11:13am.
Thomas Jefferson made note of it way back at the beginning. When a segment of the population finds out it can vote to take money from other folks' wallets it is the end of our American Dream. Currently 48% are doing that right now. I am not sure it can be reversed. *sigh*
Democracy is bad
Submitted by Tyler520 on Sun, 05/13/2012 - 11:14am.
I find it peculiar that anyone here would chastise the man for his comment.
After all, Democracy IS a bad thing. Our founding fathers understood this, and created a Republic, instead - a nation of Laws.
Democracy is nothing more than mob rule - 2 wolves and a sheep discussing what is for dinner.
Excellent point! The
Submitted by BoilerFan on Sun, 05/13/2012 - 11:57am.
Excellent point! The Founding Fathers established a representative/constitutional republic. They went out of their way to NOT create an actual democracy.
Would you prefer a Caliphate, Fareed?
Submitted by drsamherman on Sun, 05/13/2012 - 11:25am.
Or how about a Islamist anarchist state?
We would be more than happy to give you a one-way ticket to Damascus.
too much democracy?
Submitted by MidAmerica on Sun, 05/13/2012 - 11:53am.
What does too much democracy really mean to these people? ....the inclusion of Conservatives. What they really want is one party rule such as we have in many of our big cities. What they really want is elections to elect politicians who are merely show props for the actual power which is by unelected power brokers behind the scenes. Elections are used as a tool to temper the unrest of the people by giving them the illusion of having a say in their own government. We have that very thing in Illinois. Quinn is the state governor but you would have to be politically naive to believe he is a political power in the state. The power of state government resides in Chicago with people known only to the inner circle.
Yes Achmed,
Submitted by hbnolikeee on Sun, 05/13/2012 - 12:07pm.
Europe's problem is democracy. LACK OF IT.
What A Stupid Question
Submitted by HardRightTurn on Sun, 05/13/2012 - 12:25pm.
Is Socialism democracy? If you don't know the answer to your own rhetorical question...
To more fully comprehend the Left, one must read “Leftism As Psychopathy” by John Ray, M.A., Ph.D. Caution, it might scare you a little bit.
http://jonjayray.tripod.com/psycho.html
The problem in Europe as in America is "democracy"
Submitted by lrgon on Sun, 05/13/2012 - 1:10pm.
"... at root, is whether democracy has become part of the problem." Fareed Zakaria
"...don't blame democracy, Mr. Zakaria. Blame your colleagues who are regularly doing everything in their power to undermine it.":-- Noel Shepperd
The men that crafted our system of government guaranteed that "every state in the Union" would have a "republican form of government." Article 4, section four of our own Constitution describes our system of government as a "republican" form of government. It is NOT a democracy. We "pledge allegiance" to a REPUBLIC, for which it stands..."
The framers eschewed democracy and said so over and over as the most dangerous form of government ever devised by unscrupulous men to steal other people's property.
Communism and democracy are basically synonymous.
James Madison said of democracy in Federalist Papers #10: "democracies have ever been spectacles of turbulance and contention;have ever been found incompatible with personal security or the rights of property; and have in general been as short in their lives and they have been violent in their deaths."
Aren't the Greek mobs contentious and turbulent and being led by loud mouths waving red flags and spouting off against private property as the root of the problem? The red demagogues mislead the rabble into demanding the property of the rich and affluent and to "redistribute" it among the poor. When this system of democracy destroys itself, as it surely will, then the tyrants will take over and establish a dictatorship ruling over everyone including the fools in the streets who were beguiled into using "majority rule" to take away another man's property.
Madison described a democracy Federalist #10 paragraph 12 and then he recommended a "republic" as "the cure" for mobs and tyrannies that enivitably follows a dysfunctional system as democracy.
Fareed Zakaria has lent his voice as the editor of a large publication away from the cure that republican government will bring to a nation and her people. In addition his membership in the secretive Council on Foreign Relations says a great deal about where his political prejudices point to. That he occassionally calls it correctly is one thing but he doesn't explain why "democracy" is at the root of the problem and certainly not as the Founders explained it! Nor as other famous men and women throughout history decribed democracy.
http://www.youtube.com/watch?v=KFXuGIpsdE0&feature=related
Actually, I agree with mullah Zakaria
Submitted by Dave. on Sun, 05/13/2012 - 5:35pm.
Democracy is nothing more than mob rule, and most of the parisitic mobs in this world are voting themselves money their respective countries do not have.
And that includes this country.
Constitutional republics (what we used to be) are the way to go.
-Dave
Vote for the American in November
They should go back to being Hunter/Gatherers.
Submitted by CobraMan on Mon, 05/14/2012 - 10:46am.
"This is a sad state of affairs because what many people are worrying about, at root, is whether democracy has become part of the problem. "
Let's see: After thousands of years of being hunter/gatherers, Europe tried the Imperial political system and most people were poor, starving, and helpless. What little resources were available we reserved to the Elites, the Kings, the Queens, the Royal Court, for it was the Elites who owned everything, including the "peasants" the common citizens itself.. Everyone else had to do with what was left over, which wasn't much. So, that system doesn't work.
They they tried Socialism, and most people were poor, starving, and helpless. What little resources were available was owned entirely by the State, with the State deciding who was more deserving of things that the common person. The State decided how much grain to grow, and who shall eat it. The State decided how many products to produce and who shall revive them,. The State controlled everything, with the result that most people had nothing, other than what little the State would ration out to them. So THAT system didn't work.
Then they switched to Democracy and, although some people are poor, starving, and helpless, that vast majority of them are not They are ether fully employed, or fully supplied by those why are employed. They have a place to live, food to eat, cloths to wear, and access to the best medical care their countries can provide. Many of them are unemployed, yes, but NONE of them are dying from starvation, exposures, and lack of proper medical care. But, apparent, this isn't good enough for some people, They look at someone else who has a bigger house, a fancier car, a nicer dress, and scream "it's not fair, I don't have those things (ok, I do have most of those things, but they're not as big, shiny, or grandiose as the other person has and that's so not fair!) and I deserve them, I really do, but I don't have them, so it's not working!
Well, hay, Europeans, why don't you just go back to being Hunter/Gatherers? You seem to SUCK at being anything else!
The Citizens of each State shall be entitled to all Privileges and Immunities of Citizens in the several States. The US Constitution
Unless you're a fetus. The US Supreme Court
Or Anwar al-Awlaki.
Cobra, not to quibble
Submitted by Agnostic on Mon, 05/14/2012 - 10:56am.
but it was Capitalism that brought those successes in society not Democracy. Democracy is mob rule and usually with mob like intelligence.