US Action News

[T]his Euro sovereign debt crisis, even if contained and/or resolved in an orderly and timely manner, would most likely bring wide spread austerity programs to almost all developed economies, including the U.S. either by the Super Committee or by the automatic spending cut, which would almost guarantee a global economic slowdown, if not an outright recession.

Of course, this is exactly what these economies don’t need while dealing with this sovereign debt stuff, as this kind of economic collapse ensures missed government revenue and deficit targets, starting the whole spiral over again. – BI