Mark Steyn: Global economy getting ready to blow

“It’s the end of the world as we know it,” sang the popular musical artistes REM many years ago. And it is. REM has announced that they’re splitting up after almost a third of a century. But these days who isn’t? The Eurozone, the world’s first geriatric boy band, is on the verge of busting apart. Chimerica, Professor Niall Ferguson’s amusing name for the Chinese-American economic partnership that started around the same time REM did, is going the way of Wham!, with Beijing figuring it’s the George Michael of the relationship and that it’s tired of wossname, the other fellow, who gets equal billing but doesn’t really do anything.

The deeper problem may be that this is a double-act with two wossnames.”