US is facing the highest debt of it’s history, close to 95% of its yearly income, Europe faces unsolvable debt problems of Greece, Ireland and now Portugal, soon Spain and Italy. EU is not strong enough to carry this debts, because all country already have to much debt, even if the alarm signal is not yet on.

There are no sign of progress only signs of regress.

Where all this is going on ?

Major failure of major economies ?