This commentary on the European Summit-Debacle - from Tyler Durden at Zero Hedge - is both succinct and spot on. This one pretty much sums it up:
"... it means that the Greek scheme of playing chicken with the Euro zone, has now been adopted by everyone else in the core."
Our (America's) political and economic challenges won't make things any better for the global economy.
Not only is history whispering in our ear, but the coming calamity doesn't appear to be on anyones radar screen. I don't know whether it's a product of people not knowing their history, or because people are still caught up in a failed free market ideology that blinds them to reality. Simply believing in free market myths does nothing for people who are desperate and out of work. Desperate people do desperate things.
Indeed, desperate people will also follow stupid people who say and do stupid things. It may take a while, but a collapsing global economy is a bigger threat than al Qaeda. Big time.
Stay tuned. Sigh ...