The Vanity of Big Government
Mark Steyn has a good piece out at Investors.com. From it:
Almost every problem we face today arises from the vanity of Big Government. Why has BP got oil wells 5,000 feet underwater in the middle of the Gulf of Mexico? Because government regulated them off-land, off-coast, and ever deeper into the briny.
True, BP went along. Its initials stand for "British Petroleum". You may not be aware of that if you've seen any of their commercials in recent years: "BP — Beyond Petroleum." They were an oil company ashamed of their product, and advertising only how anxious they were to get with the environmental program. And a fat lot of good that did them.
BP, not to mention its customers, would have been better to push back against government policies that drive energy suppliers into ever more unpredictable terrain in order to protect the Alaskan breeding grounds of the world's largest mosquito herd. Instead, we'll do the opposite. There'll be even more government protection of "the environment," and even more government regulation of the oil industry, and BP will be drilling for oil in that Icelandic volcano.
It's the same in Europe. Greece's problem isn't so very difficult to diagnose. Like many western nations, its government has spent tomorrow today. As in New York and California, public-sector unions have looted the future. This is the entirely foreseeable consequence of government policy.
So what's the solution? The international bailout (including a hefty contribution by U.S. taxpayers) is a massive subsidy to the Greeks to carry on doing all the stuff that's got 'em into their present mess. The European motive for doing this is to "save the euro" — a currency whose very existence is a monument to the unbounded narcissism of government.