Europe's economic 'charade' may be exhausted

Commentary: Bad news in Europe underlies week's Wall Street rise

Everybody struggles now to find guideposts in the thicket of new economic information. Two old ideas may help:

  • First, the time-sense of humanity is more calibrated to getting the bear out of the cave than musing about why bears like caves.
  • Second, a version of frog in hot water — we tend not to notice the gradual onset of lunacy, grasping the insanity only in retrospect.