Europe In Deepest Recession Since War As Germany Suffers

From The Telegraph:

German economic policy is "bankrupt", economists have said.

The declaration was made as it emerged that Europe's biggest economy has now suffered a worse "lost decade" than Japan and is deeper in recession than any other major economy.

On a day of dismal news for the European economy, official figures also showed that Italy, Austria, Spain and the Netherlands are facing their biggest combined slump in post-war history, sparking warnings about the potential for social unrest throughout Europe.

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My Comment: If we are hit with an oil shock and/or another war in the Middle East (Israeli strike against Iran's nuclear facilities) .... expect everything to go to hell pretty fast.