We received this broadcast e-mail message this morning from a North COASTer, and at first dismissed it as another mass e-mailed over-reaction to the day's events.
Then, we got to thinking....
Perhaps this story is even more ominous than that subject line using ordinary vernacular would indicate.
If we are serious in our warnings that the European debt crisis could envelop America, then this is even more severe, a sign that we can't in the short or long term dig ourselves out of our fiscal mess.
If lenders see no hope of a debtor ever making good on his obligations, and indeed the debtor will continue digging himself into a hole, isn't that about the time the lender stops lending?
Let us consider the consequence of the path we are on before it's too late.
Read it here.