Thursday, February 03, 2005

Old Europe's Socialist Woes

The Axis of Weasels is also the Axis of Unemployed Citizens. Bloomberg notes German Chancellor Gerhard Schroeder's political woes (and the potential that he'll be drummed out of office in the next election) caused in large part by Germany's moribund economy. The statistic most reflecting Germany's economic malaise: a 10% unemployment rate, second-highest in the Eurozone.

The highest unemployment rate among countries on the Euro currency: Spain, home of the Socialist PM Jose Zapatero, whose politics are of a piece with MoveOn.org and Michael Moore. Nipping on Germany's heels = France, with a 9.7% unemployment rate.

Compare that to the Atlantic Anglosphere: US unemployment is around 5.4%; UK unemployment is about 4.6%. Comparing the relatively minor welfare-state apparatuses of the US and UK to the cradle-to-grave welfare-state provided in Spain, Germany and France leads to this inevitable conclusion: Capitalism good, socialism bad.

HT: QandO.

No comments: