Everytime it seems like things are getting better, something flares up to send us right back down.
Earlier this summer, after the European situation dissipated a bit, US economic data started coming in a bit weaker.
And after a positive weak in the US, Europe is back in the spotlight — not just Ireland, but also other countries on the periphery.
It’s as if the global economy has flypaper stuck to it, and in the process of removing it from somewhere, it gets stuck somewhere else, never going away.
Of course, that’s to be expected when we have a policy of extend and pretend. The issue never really goes away, it’s just that in the process of freeing one part, the problems magically appear somewhere else.
It might be a good tradeoff (the pain may be too much, otherwise), but it does mean we can expect this for a while. Just when it looks like we may come unstuck, a new situation will arise elsewhere.
Don’t miss: 13 signs the economy is in a depression >
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