When the facts change, I change my mind. What do you do? -- John Maynard Keynes

Friday, July 15, 2011


Crumbling of the EU Adds to Futility of Test Results - WSJ.com: "To me, it seems clear: There are elements of German society, and influential ones at that, in which reluctant cooperation with the European project is just a hair's breadth away from open revolt and rupture.

At the other end of the scale, a critical mass in southern Europe is losing its ability to live with a currency as hard as the euro. The crisis is fast approaching the point of no return.
. . . .
. . . the transition of the European Union from a reasonably stable entity, resembling the product of 50 years of European reconciliation and integration, to one on the verge of a disastrous collapse, in which serial defaults will almost certainly lead to a return of competitive devaluations, the break-up of the single market, and the end of any serious attempt to regulate Europe's politics in a mutually beneficial way, within a predictable legal framework."

The Big Picture

Financial Crisis - The Telegraph

JohnTheCrowd.com | The Sailing Website

Craig Newmark - craigconnects