The Euro Zone Is A Slow-Motion Train Wreck

[koganbot]

"'The euro zone is a slow-motion train wreck,' Mr. Roubini said during a separate panel discussion."

Slow-wreck aficionados will note that this is better than a couple of months ago, when Europe was on the train-wreck fast track owing to the ECB's then-unwillingness to purchase Spanish and Italian bonds.*

Confused centipede attempts to mate with mealworm pupa


*It's not directly purchasing them now, but, according to Krugman at any rate, it's doing the functional equivalent, essentially laundering the purchases through banks.

Comments

Speed Of Wreck Not Speed Of Engine?

[koganbot]

Well, what the metaphor could mean is that it's a regular full-scale wreck all right, but through our visual superpowers we can make it move slowly in our time, while in its own it retains the exact characteristics of a standard-issue kaboom! train-wreck. So the engine has the same quick speed it always had (speed being relative to the observer), but we see the wreck at one-thousandth the speed.