The world economy is in shambles, the euro is on the verge of collapse, the European Union is shaking in the wind, with countries that should never have been tied to the big boys tied to a monetary system that forces them into bankruptcy. I chanced upon my friend Montmorency, a homeless man, once a Wall Street Master of the Universe, and asked him what happened.

 

 

Well, he said, what no one thought

Was that the market could be brought

To such a state and in so short a time

In fact we thought ‘twould never end

That we could borrow, tax and spend

While making money risking not a dime

But suddenly it came undone

Just too much debt and when the One

Piled trillions more upon us that was it

And not just us but Europe too

The welfare state just grew and grew

We had a world of bubbles made of spit

And so that’s where we are today

Defaulted bonds and hell to pay

And riots in the streets with burning cars

The Chinese nervous as a cat

The Germans saying that is that

And all my money friends now drunk in bars

And then he cried and waved a hand

I saw he’d sold his wedding band

And noticed that his clothes were torn and soiled

I handed him ten bucks and said

This cannot last, it is not dead

The welfare state has left us soft and spoiled

The politics will find a way

To take us back to that fine day

When checks were given out to one and all

He cried and said he sure hoped so

And as I smiled and rose to go

He sobbed and said we sure did have a ball