This business will get out of control. It will get out of control and we’ll be lucky to live through it. – Admiral Josh Painter, The Hunt for Red October

Bottom line … big mess. As the world gets smaller there are increasingly issues that need get resolved across old borders…environmental, labor, industry standards, financial systems, national security. And ad-hoc treaties and arrangements aren’t always adequate. The EU has done a pretty amazing job with free movement of people and goods and binding the entire continent. But the EU institutions and decision-making can be unwieldy, it has a democratic legitimacy issue. Free flow of people from Bulgaria, Romania and Poland all the way to the UK can arouse resentment. And of course the euro is a total disaster. You can’t have a currency union without fiscal and political union and labor mobility.

I question the wisdom of extending the EU and Nato up to the borders of Russia and former Soviet republics, and starting a shooting war in the Ukraine.

One feels there should have been a reasonable way to sort this out, the alternative will be a huge mess, and in the words of George W. Bush, this sucker could go down.

(more all the time at StreetEYE, natch)

The New Yorker cover