A Dose of Reality from Paul Rahe

No one wants to imagine the worst case scenario in terms of the economy, however Paul Rahe does and outlines it here in this brief and chilling article.  The unemployment chart in the article alone suggests his basic argument that this is a fiscal or excess debt-driven recession along the lines of the 1930's is probably the correct view of what's happening now.  Rahe's bottom line is we are facing a very rough ride for the next phase of this unwinding of excessive debt everywhere and that we have probably the worst leadership imaginable in place to deal with it.