Sounds like a "house of cards" to me. Several small towns back in the Northeast, where I grew up, had their fire and police retirement funds get caught up in the Maddoff scam. Now those same small towns are struggling to meet their financial responsibilities. So far it seems the US Government has been able to help them out...but with austerity measures looming at the national level that safety net may soon be fading away.
Soon national, state and local governments will be "working without a net" just like the rest of us poor slobs.
I would call it a House of Cards. One strong draft and we all fall down. Prepare for impact as one of the European countries that was touted as wonderful by some in these forums, France (with its AAA rating), is tettering on the brink like Greece, Spain, Iceland and Ireland. We thought last week's market was volatile....imagine if the European Union implodes.
All the kings horses and all the kings men. One strong breeze friends and the house comes down.
