The Contrarian

“In the investment markets, what everyone knows is usually not worth knowing.”

The Monster Called the EU

European citizens don’t vote for their masters, the heads of the monstrosity called the EU. Imagine, in this day and age, most of the people don’t have a choice of who makes the regulations and laws of the EU.

Analyst Jon Rappoport of Australia writes:

With an annual budget in the vicinity of $100 billion, the EU is intractably corrupt and incompetent.  It’s estimated that $5 billion a year is stolen from that budget.  As for the other $95 billion, what is it for?  Nations can govern themselves.  The EU could disappear tomorrow and no one would catch a cold.

The entire bloated structure, employing between 30 and 50 thousand people (depending on how far the count is extended) is a vast boondoggle.

We have read elsewhere that the EU employs 55,000 employees. One wonders what they do all day. After all, the member nations all have their own full governments.

Nigel Farage of the UK represented his country at the EU. He was very blunt in his speeches on the floor of the EU parliament. They were great speeches. You can hear them on youtube.com.

You can read more of our current analysis and forecasts on the global stock markets, bond markets, and global economies in our award-winning WELLINGTON LETTER, now in its 41st year.

Visit DohmenCapital.com to learn about our other services exclusively for serious traders and investors.