In response to:

Prepare for Fiscal Doom

true liberal Wrote: Nov 15, 2012 6:13 AM
Well the one thing that I saw come out of Europe over the last hundred years is the wonderful cappuccino I had at a Rome outdoor cafe.
Bernard83 Wrote: Nov 15, 2012 7:59 AM
Hey that's great! I'd build a new country on that if I wear you........ You are a "true liberal" I can tell.

OK, perhaps doom is too strong a word, but then again, perhaps it is not. 

In either event, 2013 is not shaping up to be a banner year for the economy. And it’s not just or even mostly because of the fiscal cliff.

Our financial system is not stronger now than it was in 2008 when it finally collapsed under the weight of crashing real estate prices that fell all the harder because they were ballasted by plenty of government guaranteed debt.

In fact, prepare right now for the Next Great Bailout. Because this time around, the federal...