Off the Cuff: The Tarnishing of American Exceptionalism

In this week's Off the Cuff podcast, Chris and Mish discuss:

• The Tarnishing of the American Image
  • Government shutdown, drones, NSA spying, military intervention…
• A Recovery in Europe?
  • No way, despite the recent PR offensive
• A Coming Crisis of Confidence
  • When the Fed can no longer move markets, watch out

It's never a good sign for any country when Amnesty International proclaims it may be guilty of war crimes. But the U.S.?

The integrity of the American brand is taking lumps right and left around the globe these days. Illegal military interventions, secret spying on citizens as well as foreign heads of state, furloughing workers because our leaders opted for a shutdown of national government versus – you, know – leading.

But as tarnished as the U.S. image has become, it by no means is the dirtiest shirt in the hamper. Europe has been engaged in a lot of chest-beating recently trying to convince the world its economic troubles are behind it now. But no one is fooled. No scratching is needed to still see the endemic issues (crushing unemployment, over-indebted banks, ethnic tension, etc.) have not budged at all.

The biggest bubble we now face is one of confidence. In our corporate and elected leaders. In the ability of the system to carry on as it has been and to recover further from here.