That’s right: Just when you thought things couldn’t get any worse with the Congressional supercommittee’s super failure to deal with America’s economic problems, this news flash from Paris: The prestigious Organization for Economic Cooperation and Development is now warning world leaders: “Prepare to face the worst.”
In its latest economic outlook, the OECD warns that the European Union is also a super failure. Not only is the EU’s debt crisis metastasizing across the developed world, there’s a danger it will become a global contagion with “highly devastating outcomes.”
Get it? More stress. Lots more. And it’s not going to let up, not for Americans, not for the EU and other developed nations. Thanks to inept leaders in the U.S. and EU the entire world may soon be in a global recession … upstaging Santa, elves, reindeer and his sledge full of toys that make the kid in each of us happy. Bah humbug. (MORE)
Source: marketwatch.com
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