From "Too Big to Fail" to "Too Big to Bail"

[Renew Deal]

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In the accompanying video, Harrison and The Daily Ticker's Aaron Task discuss the potential solutions. As Aaron points out there are only a few entities with enough money and muscle to bail out the system -- China and Warren Buffett come to mind -- but Harrison isn't holding his breath.

The truth is there's no magic bullet. "Ultimately, we're going to need to take our medicine," says Harrison. "The medicine is debt destruction or restructuring on a grand scale." Furthermore, the global economy needs something it's been sorely lacking -- political leadership. "This is going to take time, this is going to take patience, and this is going to take proactive problem solvers to get through this."

If we don't find that somewhere, Harrison argues we're in for social strife and a move from globalism to isolationism.
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http://finance.yahoo.com/blogs/daily-ticker/no-bailouts-coming-u-needs-medicine-says-harrison-182815408.html