Greece has been reduced to junk bond status, Spain is not far behind, and the European Union in general is not far behind both of them.
Germany is angry with Greece, France is angry with Germany, England is angry with the Euro, and the trade unions are angry with everyone. Countries are trying to retrench and cut government salaries by as much as 25%, raise the retirement age, and strikes are pending – everywhere.
The rest of the world is unprepared to handle a single crises – while the US fights two wars, keeps the peace everywhere, and (however poorly) manages the spill in the Gulf.
It reminds me of WWII, where the US fought in Europe, in Asia, produced sufficient arms to ship to Britain and Russia AND develop the atomic bomb when Britain and Germany both had several years head start.
The abilities of this nation are absolutely prodigious!
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