Friday the 13th: The Euro Zone

S&P downgraded the credit of nine countries; story here. In my estimate this is only the beginning. The dynamic is in place, and has been for a long time, for governments to grow and spend, but no one thought the matter through, and thought they might one day need to shrink and save.

The humanist dream of government solving everyone's problems has proven to be a golden calf. Moses is coming down the mountain. Stay tuned for details.