I guess Rick Newman’s article on the state of global economies was intended to give Americans something to feel good about as the U.S. economy continues to stumble along on crutches. But the idea that we should be elated to learn that the International Monetary Fund now predicts at least 11 major economies will fair worse than ours in 2010 is naïve at best.
Rejoice, Newman writes, for “when times are tough, one thing that tends to raise the spirit is knowing that somebody else has it worse.”
The reality is that economic distress brews a nasty stew of undesirable societal ills – extremism, militancy, xenophobia, jealousy, crime, authoritarian leadership and violence.
Continue reading World’s economic woes no cause for celebration