Europe has been harder hit than the U.S. by the economic crisis and is mired in spurious rhetoric, much of it in French, limning an illusory social-market variant to “cowboy capitalism.” This is like the Holy See’s ancient but sporadic search for a third way between socialism and capitalism. It is a vain pursuit of an economic system diluted by the imposition of self-indulgent European cultural fatigue, masquerading as gentility.
Russia is a fraud. Its population is in steep decline and chronically afflicted by alcoholism. The governmental system is authoritarian and corrupt, allied with protégés who have been given monopolistic concessions and who repay their rulers with obscene kickbacks.
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