“Coggan, the Economist’s Buttonwood columnist, is too levelheaded to predict a financial Armageddon. He does foresee a tipping point as wrenching as the collapse of Lehman Brothers Holdings Inc., complete with plunging markets, plummeting industrial output and corporate bankruptcies. No wonder it has taken $1 trillion in cheap money from the European Central Bank to get lenders to buy Italian and Spanish debt.”
This author believes that Western countries will, at some point, not be able to kick the can down the road. Then, we will have a 2008 repeat. Makes sense I guess. That or accept the dominion of our Chinese overlords…