One for the Biscuit Compendium of Pessimism

Friedman today: "When a country lives on borrowed time, borrowed money and borrowed energy, it is just begging the markets to discipline it in their own way at their own time. As I said, usually the markets do it in an orderly way - except when they don't."

Note: UPDATED. I paid Tom Friedman a huge compliment by reading his column half-awake and mistaking it for a Krugman column. I have corrected the misattribution.