We're broke. This country, this world, all of us — flat broke. That's the problem.
Sure, the nut in North Korea saber-rattling doesn't help, but he's just doing that because we're broke and distracted because we're broke. He knows it; we know it. Because when you're out of money, you're kind of out of options. Not only on how you counter a lunatic in another country, but how you keep your citizens from rebelling in your country,
The way I figure it, every major Western power is spending far more than it’s taking in, in numbers so great, and proportions so staggering, that it's a wonder any of them are standing.
Increasingly, fewer are. Greece comes to mind; now Spain. Countries where the bills are piling up, and the bad banks are piling up faster. But there, like here, we're all discovering that bailouts often require more bailouts, and rescues more rescuing.
And now we're all kind of at a loss.
We've gone from "too big to fail" to "too many failures to count," and yet we blithely continue spending in this country, assuming we won't be like those other countries.
We ignore the simple fact that debt is debt, broke is broke. No money in the till is no money in the till.
For some reason, we take comfort knowing we're no Greece or Spain; even though our increasingly accommodative government is socializing faster than Greece or Spain.
Hard to be confident about a country — any country — whose finances are so careless; which is why investors revolt. They find their world revolting, so they shun markets that should soothe them, and seek out the equivalent of money under a mattress to console them.
Average folks the world over grudgingly coming to the conclusion this game of financial charades is over.
The bill is now due and the tab is a doozie.
— Watch Neil Cavuto weekdays at 4 p.m. ET on "Your World with Cavuto" and send your comments to email@example.com