Really? There were no European bailouts? Please Register or Log in to view the hidden image! Europe's bailed out economies are booming. Except Greece, of course Europe's bailout fund loaned Spain 41 billion euros ($45 billion) to rescue the banks, and prevent the economy collapsing. ... Ireland was the first eurozone country to fall into recession in 2008. It received 67 billion euros ($73 billion) in international bailout loans in December 2013, after its property market collapsed and banks started failing. ... Portugal received 78 billion euros ($85.6 billion) in bailout loans in 2011, after failing to get its budget deficit under control. ... Cyprus got into trouble in 2013, when its financial system began to collapse. Like Greece recently, it was forced to close its banks for an extended period to prevent a complete meltdown. It secured a bailout package worth 10 billion euros ($11 billion) in March 2013. ... Just last summer, the IMF said Greece was on track with its reforms, and looked like it would not need any more bailouts. But the election of a radical left-wing government set the process back, as reforms were reversed and the country engaged in a six-month standoff with Europe and the IMF over bailout terms. - http://money.cnn.com/2015/07/30/news/economy/europe-bailout-countries-spain/They did do bailouts, and they did recapitalize their banks. When, as a negative repercussion of the Great Recession, the relatively fragile banking sector had suffered large capital losses, most states in Europe had to bail out several of their most affected banks with some supporting recapitalization loans, because of the strong linkage between their survival and the financial stability of the economy. - https://en.wikipedia.org/wiki/European_debt_crisis#Evolution_of_the_crisisWho said Italy's problems were new? Please Register or Log in to view the hidden image! Both Greece and Italy had high debt to GDP ratios before the crisis. Greece has been forced to accept austerity measures in return for bailouts, so it's not like these happened in the sort of isolation you seem to imagine. And it is not this imagined isolation that explains the lagging Greek economy: The American bailout was made easier because only one government was involved. For Greece, the political process was protracted because of the number of European countries involved in the decision-making. While TARP was larger, it was still just a small fraction of the entire American economy. Greece’s bailout was a bit bigger than the country’s economic output the year the bailouts began. Since getting help, Greece’s economy has continued to shrink, which made its debt payments untenable. The United States started to recover the next year, and it actually made money on pieces of its bailout. - https://www.nytimes.com/interactive...-up-the-greek-and-american-bailouts.html?_r=0 No, I rarely see much that wasn't addressed to me. Saying they "should" is not necessarily agreeing that they don't. Who said NATO has no value? Of course it has value...to Europe. Apparently you don't understand corporatism. Please Register or Log in to view the hidden image! Cronyism can exist in any economic system because humans must administer those systems. Favoritism doesn't adhere to one specific system. Crony Communism in China Unscrupulous officials have been stealing more since the early 1990s thanks partly to a large increase in infrastructure spending. Lucrative contracts for roads, ports and railways are opportunities for them to enrich themselves or their cronies. Investment in infrastructure, real estate and other fixed assets rose from an average of 36 percent of G.D.P. during 1980-1991 to more than 41 percent during 1992-2011. - https://www.nytimes.com/2014/10/18/opinion/crony-communism-in-china.html Who said there was '"socialist-style" capitalism'? Capitalism and socialism lie on a scale of economic freedom, where less freedom in the market moves towards socialism. And? Corporatism is not capitalism. Conspiracy theorist much? Please Register or Log in to view the hidden image!