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Why screw up alone, when you can screw up together ?
Here's the deal:
Jolly good. Let's make a global mess of it.
British Prime Minister Gordon Brown didn't say that, but he has all but set the wheels in motion for that.
Promising he and President Obama will work closely on something akin to a 'global New Deal'.
Somehow hoping that what individual countries have failed individually stimulating, maybe together they can.
News flash.
They can't.
You can't.
And here's why.
Government isn't the solution to what ails us.
Right now, it is what ails us.
Pushing stimulus that doesn't stimulate.
And rescues that themselves need to be rescued.
Governments that crowd out the private sector, assuming we're all better off with one big "public sector."
Governments that sooner trust their own uncanny ability to screw up their books…and now imparting that questionable wisdom to police private companies' books.
That is what worries markets.
It worries them in England, where bailouts haven't bailed out.
It worries them in Japan, where no fewer than eight stimulus packages haven't stimulated.
And it worries them in Sweden, and Spain, and Mexico, and Italy, where efforts to prop up stocks have only created a freefall in stocks.
And now we think maybe together these countries can avoid what they have royally screwed up well enough on their own.
A group project works when you've got a good group.
A group project doesn't work when you don't have a good group.
Look at this group. Look at this world. Look at this history.
Then, I suggest each of these leaders, do something else:
Look in the mirror.
Are you so convinced that progress demands company that you miss the greater reality:
Misery loves company even more?
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