The End Is Not Near

As the European Debt Crisis unfolds and talk swirls about a breakup of the EU*, it's comforting to note that this time the fiscal trainwreck won't lead to war and destruction. Unlike the 1930s when the statists were publishing tracts claiming that the Slavs were racially inferior to the Aryans or the proletariat was best served by slaughtering the bourgeoise, these days all they worry about is making sure the spigot of social spending and benefits doesn't get turned off. No one is beefing up their armies, either.

Things will change dramatically, but there won't be war and devastation. The potential participants don't have the motive or opportunity.

* - Dittos for the American Debt Crisis and the California Debt Crisis.