If you were putting the global economy on the psychiatrist's couch right now, the diagnosis would be schizophrenia. At a national level, it's all doom and gloom. The debt of practically every nation in Europe except Germany gets riskier by the day, and the predictable failure of the U.S. congressional supercommittee to make any real decisions on cutting America's deficit means that chances of an eventual credit downgrade just increased. U.S. T-bills continue to do relatively well only because Europe is a bigger disaster zone by comparison. Stock markets are suffering the fallout of partisan politics: jitters over the inability of...
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