The Beginning of the Endgame | John Mauldin | FINANCIAL SENSE
Ah, such naiveté from your humble analysts. While we predicted (in
general) pretty much everything that has happened so far, from Greece to
Spain to Italy, the problems with "austerity" in times of crisis, the
even larger eventual problems of postponing the day of reckoning, etc.,
we now must stand back and shake our heads in awe and wonder at the
ability of European leaders to kick the can down the road. Given the
serious nature of the problems, it is amazing (to us at least) that they
have been able to keep the wheels from coming off. In the face of the
powerful centrifugal forces that should have torn Europe apart, we must
pause and give serious thought to why they have not done so already.
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