Economic Crisis

Governments that have so far collapsed:

• Iceland
• Latvia

The Watch List:

• Spain
• Greece
• Italy
• Most of Eastern Europe
• United Kingdom

I believe that the European Union will break up in the next 1-2 years, the Euro is being exposed for what it is: an economic agreement, not a political one. I think "Game Theory" will play out and these countries will move to protect themselves, which will ultimately hurt the entire Union. It will be interesting to see which country bails first.

On a side note, a report came out to say that China's economy was bottoming out, meaning they have seen the worst of their crisis. The interesting thing is that critics of the our bailout plan said we needed more of a Chinese Style Plan, which eliminated the ideological pork and focused on actually producing jobs. Only time will tell if the Chinese Plane is more succesful, but I'm afraid, by that time, it will be too late- they will be the economic superpower.

What also bothers me is that our government is using this as an "opportunity" to push new agendas. Look, it takes time to build new industries, if that's the focus of your administration, fine, but let's get these people back to work, paying their mortgages, and feeding their families. I'm tired of all these distractions, pointing fingers, and petty games. Let's get back to business!

Hillary Clinton promoting the Obama Doctrine: "Never waste a good crisis..."

http://in.reuters.com/article/environmentNews/idINTRE5251VN20090306?pageNumber=1&virtualBrandChannel=0