11/8/11

And so the GGH begins...

The Great Global Hurricane I foresaw yesterday struck land today: Silvio Berlusconi, failed to get a majority in a crucial parliamentary debate and will imminently  decide if he will quit.  France has introduced  its harshest cutbacks since WW2 to try and insulate the country from an Italian  debt/death spiral. 
The Telegraph's Ambrose Evans-Pritchard is an incorrigible  doom-monger and never lets a crisis go to waste,  but he's very articulate.  Read him here.