Wow. Our experiment is off to a great start—let's see if we can finish it off sooner than expected.
THE REST OF THE WORLD....Marc Ambinder says that Barack Obama's economics team is really, really worried about a genuine collapse of the global economy. But he wonders if they're worried enough about the collapse of individual countries:
To be sure, Pakistan is nearly broke, and U.S. policy makers seem to be aware of that; but a worldwide demand crisis could lead to social unrest in countries like Indonesia and Malaysia, Singapore, the Ukraine, Japan, Turkey or Egypt....The question: what's the administration's policy in this area? Which countries can we afford to let fail? Which unstable states would concern us the most? Is there something the U.S. can do, in advance, should do, in advance, to forestall the collapse of other economies?