Monday, January 19, 2009

Think It's Bad Here? Look at Europe

The first graf is gripping; the rest fills in the blanks.

Events are moving fast in Europe. The worst riots since the fall of Communism have swept the Baltics and the south Balkans. An incipient crisis is taking shape in the Club Med bond markets. S&P has cut Greek debt to near junk. Spanish, Portuguese, and Irish bonds are on negative watch

So far, the US (and PRC) are the last men standing, although it ain't so pretty here, either.

HT: Dreher

1 comment:

steveegg said...

The scary thing is, if we fall, so does Red China, and they're far more willing to use force for economic gain.