What can Draghi really do in Europe?

Ok, so today Draghi says the ECB will do whatever necessary to save the Eurozone.
Really?  Just one tiny problem.  Yes, the Dow rose over 200 points.  But if you will forgive my non-original phrase, it is "irrational exuberance'!  Why?  Because the fundamental problem is behavioral, and the financial problems are a symptom of that, not the cause. And Draghi cannot change behavior.  Until the citizens choose governments of fiscal responsibility and take some on themselves...it will still be, as it has for over 2 years...(sorry...but sadly still true)...kicking a now even larger can down the road.

As an Economist and Behavioral Scientist/Leadership Expert of 30 years, I see clearly that if a critical mass of countries like Greece don't want to work, don't want to pay taxes, and yet still expect their governments to nanny them cradle to grave...the simple question is:  Where is the money coming from?
Their expectations and demands...the people...are simply unsustainable.  The bankers can do what they like but if people don't want to work and pay taxes, the underlying behaqvioral problem of dependency will continually cripple Europe.

It is laudable to try to save the Eurozone in some ways...but the model of Germany working so other countries don't have to, as one commentator said this week...is so unfair it is a brutal manipulation of hardworking Germany, economically and psychologically.  Kudos to Merkel for standing her ground, but the situation is still fragile. 

Any time you have the weaker punishing the stronger, this will fail...not sustainable economically or psychologically.  The therapist Fritz Perls said the underdog always wins (by manipulation)...let us hope he is wrong in this case, but for now, tragically, he is right so far.  The profligate nations have no right to
bleed dry the hardworking successful nations. 

Of course, all of this also applies to the U.S....a struggle for survival....more on this later. I fervently hope that voters see all of this in the fall here. But at least a much higher percentage of us pay taxes and our retirement age is higher than in Greece!

Peace and prosperity to you all!
Dr. Linne

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Dr. Linne Bourget M.A. M.B.A. Ph. D www.oldpowernewpower.com www.whatyousayiswhatyouget.com
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