France: Perhaps the Real Canary in the Coal Mine?
John Mauldin, whose weekly e-mail newsletter is one of my must-reads, puts his finger on the European situation in this week's Thoughts From the Front Line.
A healthy Europe is vital to the future of the U.S., in the sense that our current state of dreamy optimism is fragile. Our self-confidence is dependent upon things progressing smoothly in other parts of the world, and the slightest hiccup, whether at home or "over there," can have a ripple effect.
John has another column from last year that explains this fragility nicely. It has to do with complexity theory. Read here.