Collateral Damage

What Next? Where Next? A World with Too Much Debt Debt Restructuring and Write-Offs The Euro Zone: Pouring Fuel on the Flames What If… ? The Year(s) Ahead Auld Lang Syne "Whoever cannot seek the unforeseen sees nothing for the known way is an impasse." - Heraclitus, Fragments Which path will we take? If we could only grow our way out of our sovereign debt problems. But growing debt creates even more problems if not dealt with, making it even more difficult to deal with; yet getting the debt and deficit under control brings its own form of pain. As I keep pointing out, there are no easy choices left. Some countries must choose between difficult and very bad, and others are faced with either disaster or calamity. Greece simply gets to choose what it wants to be the cause of a depression. Long and slow or fast and deep? Choose wisely. It's that time of year when we start thinking about what the next may hold for us. I am reading and thinking a great deal about my ann...