A WARNING FOR EUROPE – AT 7:17 P.M. ET:  Some people really do understand the debt crisis in Europe.  From London's Daily Mail:

Democracy could ‘collapse’ in Greece, Spain and Portugal unless urgent action is taken to tackle the debt crisis, the head of the European Commission has warned.

In an extraordinary briefing to trade union chiefs last week, Commission President Jose Manuel Barroso set out an ‘apocalyptic’ vision in which crisis-hit countries in southern Europe could fall victim to military coups or popular uprisings as interest rates soar and public services collapse because their governments run out of money.

The stark warning came as it emerged that EU chiefs have begun work on an emergency bailout package for Spain which is likely to run into hundreds of billions of pounds.

The stark warning came as it emerged that EU chiefs have begun work on an emergency bailout package for Spain which is likely to run into hundreds of billions of pounds.

COMMENT:  We should recall that all three countries were recently run by dictators, including the colonels in Greece.  And if the debt crisis should spread, add Italy to the list, and possibly even Germany. 

The tragedy is that there are some "intellectuals" in Europe who wouldn't mind dictatorships, except they'd demand dictatorships of the left.  Individual freedom means very little to a certain class of deep thinkers.

And let's also caution that democracy isn't guaranteed in the United States, especially if government gets greater and greater control of things, and Obama-appointed judges approve the schemes.

June 15, 2010