Last night's short post about the ECB buying potentially hundreds of billions of Euros worth of Spanish and Italian debt illustrates yet another step towards the end of the modern progressive era. The Euros, our models in socialist capitalism have now failed to the point where they aren't even bothering to come up with a theory upon which to base their actions. They are simply printing money on a "large scale" to cover their spending.
I'm really not sure what else to say about that or the US debt downgrade. There's no hint of a plan or an idea any more, there's just ranting and raving on the side of the progressives. Our Monks of Miscellaneous Musings have summarized it quite nicely. My favorite is the part where Senator Kerry demands that the media stop reporting the Tea Party point of view.
Tell me that's not a sign of total panic.