Just about every politician in the world is trying to kick an economic problem down the road into 2012 or 2013. Politics virtually guarantee that the global economy won’t go into a crisis in 2011. Using a combination of interesting accounting, additional spending and subsidies, the promise of a looming global financial crisis in 2012 or 2013 will not only be bigger and harder to solve, but will also raise the odds of an additional serious crisis about five years after the last one.
