What a fortnight this has been!
Europe went deeper into its debt quagmire.
A credit rating agency downgraded the US government. Equity prices across the world swung wildly. Gold prices soared to new highs as nervous investors rushed into one of the few safe havens left in the world. The risks of a double-dip recession grew, even as some speculated about a return to the chaotic days when Lehman Brothers collapsed in September 2008. The stability of a few global banks was once again questioned. Regulators banned short sales to stabilize markets. And, to add a touch of violent drama, London saw unprecedented looting and arson.
The world is not about to end, but the manic convulsions of these past two weeks are a reminder that the optimism of the early months of this year has begun to fade away.
It seems the Western crisis that began four years ago has not yet ended.