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New World Disorder

Rana Foroohar's analysis of what ails Europe contains some interesting observations ["The End of Europe," Aug. 22]. But early on in the article, she reveals that she suffers from the very delusion that underpins all the economic problems faced by Europe and the U.S. She writes that "Britain, like the U.S., has been a center of ... great wealth creation." The correct statement would be "Britain, like the U.S. and the rest of Europe, has been a center of great debt creation, leading to the illusion of wealth." That illusion is now unraveling, despite desperate efforts of...