Jefferies’s David Zervos got a lot of flak for suggesting yesterday that the U.S. could save Europe from destroying the global economy.But in an email today, he’s still saying that this is just the logical solution if this euro-mess continues:
Like many folks, I just want it to end. Having to constantly price in some probability of complete Armageddon is maddening. The main point of yesterday’s message was that if Europe cannot get its act together, there exists a US led solution to the problem that does not involve having to enter the second Great Depression. I was being optimistic! I was also trying to point out that there exists a very dangerous Schumpeterian viewpoint out there that subscribes to the notion that Great Depressions are “cleansing”!