The World Economy: Be Afraid -- Economist
Unless politicians act more boldly, the world economy will keep heading towards a black hole.
IN DARK days, people naturally seek glimmers of hope. So it was that financial markets, long battered by the ever-worsening euro crisis, rallied early this week amid speculation that Europe’s leaders had been bullied by the rest of the world into at last putting together a “big plan” to save the single currency. Investors ventured out from safe-haven bonds into riskier assets. Stock prices jumped: those of embattled French banks soared by almost 20% in just two days.
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My Comment: A sobering assessment on where we are. Read it all.
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