I'm acquainted with Arthur Herman, noted author and part time columnist. He's a clever man with a deep knowledge of history. And at this frozen moment int time, he has a view of the broader world which is not too dissimilar to time.
But in spite of Obama’s mountain of debt, reckless government spending, and punitive regulation, America is coming back. We’re the last major capitalist, pro-growth economy on earth, with an energy sector built on shale oil and gas, a reviving advanced manufacturing base, and a wireless and high-tech innovation industry second to none. All it will take is a pro-business president to turn the 21st century into the next American century — and to show how free markets and the private sector can turn around even the most shattered economies.
I'm not saying there aren't HUGE problems out there, but I am encouraged by what I see. I think we've survived Obama - and all we really need to at least get back on the right path, is a vision for America that doesn't lead to the abyss. The road has bumps and holes so large they could fairly be called the end of one road and the beginning of another. Our pain is afar from over. But we have a long term future, and Europe probably does not.
I've said that the Euro-crats will do whatever they can to preserve the power structure. To those of us in the business, this is what's called a "Short Vol" trade. It means they'll keep jamming the cork in the bottle however much energy it takes. But one day the pressure will be so great that the bottle will just explode. That's Europe's future. The longer it goes with the cork in the bottle, the greater the odds that it all ends in violence and bloodshed.
I'd already call it a certainty - it's just a question of when.
But for my money, I think that "when" moment is still a very long way off.