Saturday, February 13, 2010

No "easy" button

Quote of the day:

Our economic future is more and more a product of the political choices we make, and those are increasingly difficult. We have no good choices. We are left with choosing the best of bad options. Some countries, like Greece, are now down to choices that are either dire or disastrous. There is no “easy” button.

From "Between Dire and Disastrous" by John Mauldin on Barry Ritholtz's The Big Picture. The letter is somewhat long but a clear and succinct description of the Greek economic conundrum and its consequences for the whole developed world. In brief: no country is very far from being the next Greece.

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