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Hill: Eurozone Isn’t Broken

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  • Description

    Author Steven Hill says America can learn from Europe on how to improve the economy.

  • Duration 6:36
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Because -- next guest is probably the most insistent defend out of Europe and the European socialist system.

At every time he's on the program that's what he says.

Massive -- -- in Europe have become -- parents we ask you on the program frequently and he joins is now his name is Stephen Hill -- the all thought all the Europe's.

Promise he joins us from San Francisco right -- David.

You've been -- -- frequently on the program.

I don't wanna get into a shouting match and I want to talk on top abuse so I hope it's okay with you wanted to put the clock on myself on the -- on -- -- -- I'm gonna get the first twenty seconds and you get free arranged to respond in thirty seconds and it comes back to me for twenty -- with us.

Of course mean first of -- right here we go back are you want us in America to be more like Europe.

You say that Europe is -- the left and that is a good thing.

I say Europe is flat out broke.

And he's gonna become even -- baroque is falling out of bed and causing chaos around the world go.

I think we can learn some things from will -- Europe and from some of the countries in Europe they're actually doing quite well most countries in Europe are actually doing fairly well some of them are doing better than we are here in the United States.

Germany has lower unemployment and we have everybody has health care and knowledge they have health care but there health care is cost half the amount per capita.

Than what we pay in the United States so you know the year in the in German workers get to elect 50% of the members.

Of of of of major corporations fortune 500 companies.

So they have you know served time out of the input into the economy yes it does there always are that I think we -- video is actually look at that things that -- -- mom SA if study seconds okay that's at thirty seconds and you said the same thing to -- -- -- the -- John and healthcare as we demonstrate that what -- -- a minute wait a minute.

He's saying the same thing all over again and -- not addressing the key problem Europe is broke.

Europe it's OK well they are Germany's growing well because of austerity Europe is broke.

Got it I actually Europe Europe has a but doesn't have a huge trade deficit like we have you have child -- all -- have to and they have -- the question of last question.

Europe you know is your brother is still in Greece is gonna -- actually Euro lost.

I am not factually wrong could you are fell massively in debt they this isn't there hasn't remote past you know -- this is for a moment Stewart.

The Euro zone the eurozone has -- west debt then we have as -- Euro zone but there are individual member states within the eurozone.

That certainly are not -- doing poorly and so it the big the big question facing Europe today's very different from us.

And they're trying to figure out how you -- -- needed.

As a continent -- wanna -- do they wanna become a united states of Europe that's a big question that's gonna take many years to resolve just as it -- America many years to resolve it is 7090 I guess that -- fact of the matter is that you're the eurozone and -- EU is not broke it all okay -- on Obama's look at the numbers they're not -- -- -- and he's broke how many times -- have to say -- it as a Democrat it seems to me you're endorsing explicitly the policies of Angela Merkel.

Which are much less stimulus much more emphasis on us very arguably what we need here and what I think Stewart -- recommended.

Well first thought not a Democrat I'm a registered independent and secondly -- I think debt et Al Angela Merkel policies of -- fiscal consolidation.

-- it's -- have been important for Europe.

But now there's a wind of change -- -- Europe -- think is going to be good in basically.

You're going to see the left and the right in Europe having to come together and figure out how to create more growth in more jobs create a check out what's gonna guide the election -- the way ahead of the day in France walked along the field and India in other places is basically everything is okay we're come up.

You think that the election of -- well -- is a good thing he wants to spend more money where is that money gonna come from and some.

That the -- the things that he's proposes a financial transaction tax they also have some money in structural funds that the EU level.

-- talked about raising taxes on our higher income individuals.

So you know that's his proposal but the you know chancellor Merkel and the right their own ideas about job creation with -- -- don't we got out when Warren lets wait a willingness to work with so I busy busy day that you left in the right.

Are gonna have to sit down figure out what your day job candidates you know I can't get -- -- old discussion with you -- you can't come back on the show.

You have to answer the questions I'm the host of the show -- Ask the questions you answer okay I just said when asked me how where's the money gonna come -- -- yet have you talked to transact reasons and they went off -- attention -- At mr.

Holland who see all -- he wants to Lola the retirement age from its current 62.

To sixty.

You thing that's legit.

No I think that that was a campaign promise that he's not going to fulfill I think is many things that -- said.

He said he's gonna increase taxes.

Just -- -- 5%.

A marginal tax rate on individuals making over a million euros a year I think -- you know somebody saying there were campaign promises now he's gonna to sit down.

We -- those from the center right.

From the -- miracle Mario drug -- ahead of the European central bank of Mario Monti the head of the Italian government to are all conservatives.

But they also are calling for more job creation and more economic growth and so you're going to see little left version of how to create that.

And the right version now sitting down together and figuring out what they can do together and I bet they will -- hot mile to dump a lot of analysts strong borrowing go further into debt -- I'm just curious no I don't even that's -- -- and without.

-- -- -- -- -- -- Are you so -- a socialist yet.

No -- I think you know -- -- and the idea that Europe is socialism is completely false.

Europe is firmly capital as they have more fortune 500 companies.

Then -- almost as it is nice to China combined effect that is a different type of capitalism it's what I call social capitalism.

What we have the United States is Wall Street capitalism and I think overall so -- out of -- is better than your -- -- out now or less providing -- -- on the left and in some on the left.

You know on the I don't see myself but left -- -- I think these ideas -- just common sense.

You know everybody else everybody's learn I don't know that I think what -- retirement we're at a time.

-- Stephen Hill I'm glad we had jumped with -- against -- OK my pleasure as --

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