Europe is in big trouble.  It's economies are stagnant — jobs aren't being created, and today the unemployment rate in Germany is higher than it was on the day Adolf Hitler took power.  The continent's demographics are catastrophic.  The birth rates are so far below replacement that in 30 years there will be more than 70 million fewer Europeans alive than are alive today.  And with the exception of Great Britain, Europe no longer has the military power to defend itself.

And when Europe is in trouble, it gets very, very nasty.  Anti—Semitism is always the canary in the mine, and the rise of anti—Semitism in Europe has reached levels not seen since the 1930s.  My guess is that Europe will vent its hostility on the US, rather than on its real enemies — namely, radical Islam.  Let's not forget that when we were in economic trouble, in the early 1930s, we elected FDR.  The Germans elected Hitler. 

My guess is that things are going to get very, very rough in the years to come.

Herb Meyer   2 20 05