There is another world crisis brewing — and one for which President Obama cannot be blamed. The Europeans have made a mess of things, and now the wolves are at the door.
The first snarling wolf is deflation. Europe’s economies are so weak, so close to recession, that the very real danger of deflation — falling prices — has its economists petrified. It ought also to have its politicians in anguish, but whether it does is less clear.
Europe’s big-driver economy, Germany, as well as France and Italy, are on the edge. The German miracle is ailing, and Berlin may have been …read more
Source: The Huffington Post
