Here's how comfort is defined in The Age Of The One: As crazy as we are, we're still slighter saner than everyone else:
The only reason the U.S. economy has not disintegrated because of its stupefying excesses is because Japan, Europe and China are in even worse shape, according to former White House budget chief David Stockman....
In a column for his Contra Corner blog, Stockman said he is often asked about the precarious outlook for the American dollar given the nation's debt, but predicts the greenback is not going to disintegrate any time soon.
"The reason is simply that the other three big economies of the world — Japan, China and Europe — are in even more disastrous condition. Worse still, their governments and central banks are actually more clueless than Washington, and are conducting policies that are flat out lunatic — meaning that their faltering economies will be facing even more destructive punishment from policymakers in the days ahead."
Stockman is perhaps even less complimentary in his assessment of the leaders of the other three global economies than he is of Fed chief Janet Yellen.
"[European Central Bank Chief Mario] Draghi, [Bank of Japan Governor Haruhiko] Kuroda and the commissars of red capitalism in Beijing make Janet Yellen and Stanley Fischer (Fed Vice-Chairman) appear to be slightly sober," he noted.
"Japan is a bankrupt old age colony. China is the most monumental credit and construction Ponzi in human history. Europe is a terminal victim of socialist welfare and statist dirigisme," Stockman proclaimed.
"All three are attempting to defer the day of reckoning via resorting to a final spasm of money printing and central bank manipulation that is so desperate and crazy that it can only end in disaster."
And you know what that means, don't you?
We need another Obama term to ensure that Obamerikastan regains the lead in the race to fiscal and economic hell - the only race in which his infernal majesty doesn't prefer to "lead from behind".
And we'll get it, too.
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