The Decline of the West?

Don’t look now (which actually always means, do look), but late today Moody’s cut the debt ratings of nine European countries.  Look for a bad open on the markets in the morning.  Beware of Greeks bearing gifts austerity packages.

And yes, that’s Oswald Spengler in the thumbnail of this post.  In case you were wondering.  Was he just a century too soon–about Europe anyway?

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