As we’ve previously suggested uncertainty now pervades the social consciousness, not just in America, but the world over.
Every major media outlet in developed nations is now reporting on the headwinds facing the so-called recovery.
The problems and threats confronting the stability of the globe can no longer be dismissed as theoretical arguments, because they are now being actualized – in real time.
Greek strikes have nearly driven that country to a standstill, and the former deputy finance minister told CNBC a Greek default is “inevitable,” and that the only hope was for an orderly approach to dealing with the fallout.
You’ll note that this week Federal Reserve Chairman Bernanke used exactly the same word, “orderly,” when discussing the threat posed to the European and U.S. economies resulting from a Greek default, going so far as to say that if such an event were “disorderly” it would “have a very substantial impact not only on our financial system, but on our economy.”
We now have reports that President Obama, in an attempt to distance himself from the blame which will assuredly be placed squarely on the White House once it becomes apparent that the government’s multi-trillion dollar attempts to stabilize the economy have failed, has indirectly joined with the protesters on Wall Street by pointing the finger not at himself, but the too-big-to-fail banks ...
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