An interesting read concerning the EU and the scam being pilled by France and Germany:

"Tottering Along Nicely" is one of those popular Brit TV shows in which the Brits poke fun at their own foibles, and it's pretty funny. But watching BBC you'll never learn that the EU reached its apogee last week, and the only direction it will go from here is down. The EUnuchs thundered and blundered on both economics and defense in ways that will eventually sink their attempted alliance. One of the principles the EU is founded upon is that the quasi-socialist governments of its biggest members needed to be protected from the profligacy of the others. In the mid-1990s, Germany insisted on and obtained agreement that if any EU member had a national debt in excess of 3% of its gross domestic product, it is susceptible to fines and other sanctions by the EU. This was aimed at Italy, which -- like France and most of the rest -- was debt-ridden and thought to be unable to recover without drastic reforms.

That's the advertised product. But that's not what the EUnuchs deliver of course. None of the EU nations have been willing to face the problems caused by their semi-socialist policies that preclude significant economic growth. Sclerotic economies are the norm in Europe, aging populations brutalized by taxes and not even able to reproduce to create a new generation to pay for the old. The EU's own books -- reflecting the bureaucracy's spending habits -- don't balance enough for outside auditors to even say they're accurate. France -- recently most famous for letting ten thousand of its citoyens die in a heat wave because everyone responsible for dealing with the problem was on vacation -- has reached a level of decadence unseen since Madame Guillotine first came to prominence in 1789. Staggering wages, frequent strikes, statutorily-created long vacations and breathtaking taxation have resulted in French debt in excess of 3% of its Gross Domestic Product for the third year in a row.

Germany, also in the Red in more ways than one, also exceeds the 3% threshold. All that made both countries susceptible of fines for breaking the rules designed to protect the Euro. But there they go again. Last week the two founding members of the Axis of Weasels railroaded an agreement that broke the Euro deal, and that Humpty Dumpty won't ever be put together again. Now, the rest of the EU members -- many of which are not EUnuchs, such as Spain -- are left holding the bag for their supposed economic partners. It is only a matter of time before this problem unravels the whole EU deal.

If you don't like the rules, change them to suit you. I can't believe anyone would join into an economic alliance with France or Germany. Our economy, however, continues to roll:

Stocks jumped to close at 18-month highs on Monday, led by industrial stalwarts International Paper Co. and Alcoa Inc., as investors welcomed a report showing U.S. factories barreled ahead in November at their fastest clip since 1983.

The Dow and the Standard & Poor's 500 recorded their highest closes since the end of May 2002, while the Nasdaq finished at its highest mark since January 2002.

"Businesses are increasingly convinced this recovery can be sustained, and it won't just be a flash in the pan," said Richard DeKaser, chief economist at National City Corp.

The outlook for the economy was given a boost early in the session as the Institute for Supply Management said its barometer of manufacturing activity surged to 62.8 in November from 57.0 in October, far exceeding economists' forecasts and putting to rest doubts that a manufacturing recovery will be sustained.

A separate report earlier in the day showed that U.S. construction spending jumped an unexpected 0.9 percent in October, setting a record for a fourth straight month.

The Dow Jones industrial average (.DJI) closed up 116.59 points, or 1.19 percent, at 9,899.05, its highest close since May 31, 2002. The Standard & Poor's 500 Index (.SPX) ended up 11.92 points, or 1.13 percent, at 1,070.12, which marked its highest point at any time since June 3, 2002, and its highest close since May 28, 2002.

The technology-focused Nasdaq Composite Index (.IXIC) finished up 29.56 points, or 1.51 percent, at 1,989.82, its highest close since Jan. 15, 2002.

How come every bit of good news about the economy is the first since "the Reagan administration"? I guess once Reagan got in office, there was no where else to go but up after four years of Carter.