Free Markets, Free People
In this podcast, Bruce Michael, and Dale discuss Herman Cain, the Occupy Movement, and Europe.
UPDATE: Well, no sooner do I post this podcast where I question why the Chinese would be interested in pouring some money into the European Stabilization Fund, the Chinese provide an answer. They wouldn’t.
Also last night, the chairman of the supervisory board of China Investment Corporation, the country’s sovereign wealth fund, put further distance between China and the eurozone bail-out, saying that Europe’s bloated welfare state meant that people did not work hard enough.
“I think if you look at the troubles which happened in European countries, this is purely because of the accumulated troubles of their worn out welfare societies,” Jin Liqun said in an interview with Al Jazeera television. “I think the labour laws are outdated – the labour laws induce sloth, indolence rather than hard working. The incentive system is totally out of whack.”
Eurozone leaders had been hoping that China would use some of its trade surplus to back the bail-out fund.
Now they need to hope something else.
The direct link to the podcast can be found here.
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