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November 22, 2011


As thousands of protesters took to the streets and violence ripped through central Athens, Greece's Parliament approved yet another round of punishing spending cuts to secure international rescue funds and ease fears of a calamitous financial collapse, potentially perilous for global markets and Europe's single currency.

I'm sure Whitman meant to convey a negative assessment of the coming year for investors.

However, the phrase "just looks tough" has a delightful ambiguity to it and I initially interpreted it to mean "2012 ONLY LOOKS tough..." implying that the reality will be somewhat different.

Which is what you get for having the eyes of an optimist.

There was a time when chief executive officers did everything to not say what was obvious: their companies were in trouble. Instead they would use phrases like "pause in the marketplace."

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