Seems to me like the world economy is kind of like an airplane that has had it’s tail shot off and the hydraulic systems are gone; we’re still in the air, and to the passengers it looks like we’re OK but a little shaky; but inevitably, we’re going down. The only questions are, how hard? and how soon?.
I sure hope he’s wrong. I don’t think he is. Meanwhile, in the U.S., most politicians are about as credible as Baghdad Bob on the subject. Both sides will still be arguing about what to do – and doing nothing useful – when the plane hits the ground.
I bet we get to the crash site at least half an hour ahead of the paramedics. (Paraphrasing Ron White).
The Euro may not make it to 2012. Then again, it might. What will the repercussions for the U.S. look like?