Mish reports that EU commissioner decrees vacations a “human right” that should be subsidized 30% by the state (using debt of course) for those that cannot afford them.
What better way to stay popular with the ever poorer masses than to promise everyone a cheap vacation? These are simply amazing lengths that statist socialists in Euroland are going to in order to keep the Ponzi rolling. At the end of the day all of these programs are paid for using wealth transfers from producers and savers to consumers and spenders. For a while these policies seem to work OK but the pot has to be sweetened each year because, let’s face it, poor people do not go on vacation every year even if 30% of it is paid for by the state. At some point the producers simply cannot (or will not) bear any greater a load just so that nonproducers can have better lives
