Spot on Edgy... myself and another Canadian collegue were just discussing how our recent trips home were very 'odd'. All the media was hyping on about the 'problems' in Europe... on and on and on... we were both wondering why there was so much focus on Europe where clearly we believe that Europe is in a much better position then the US?
The MSM in the US is the beast at the end of a leash in my opinion. They focus on Europe to provide a scapegoat and a distraction. In addition, if you can get Hedgies to believe it, they may sick themselves on European nations believing them to be the weakest/sickest animals in the heard. Greece has never been great finacially and neither has Portugal, Italy or really Ireland. That's not new. But Germany, despite some problems, is a raging beast of efficiency and productivity. Sure some of the nations here have enhanced social programs... but c'mon that's not the real issue! That's not why nations are broke! Banks & financial institutions are the start and end of the real conversation. In the US, the FED & FEDeral government have been disasterous and I would argue that without Apple Inc., America Inc. would look very, very weak and inefficient. But thanks to Cupertino, we still line up for US innovation and products.
As you so elequently stated: Europe can shed the weak members of the flock. What can the US do? Mess about with fiscal policy and create new 'tricks' or dig old ones up like "Oliver Twist"? I'd bet on Europe any day over the US... but I wouldn't bet on Europe either :) I'd bet on... big, fat, scary, nasty changes.
Soul
