Hmmmm, big hole in America's recovery means an even bigger hole in all other economies. America is the biggest consumer nation on earth, we stop buying who is going to buy the euro's goods and who will buy Chinese goods, particularly since we've been so consistantly insulted by these people. I know that I'll be more careful of what I buy. Just think of all the jet fuel that will be saved by Americans staying home this summer :o)
Oh yeah, and nothing like reminding Americans how dependent we are on foreign oil to make us more willing to drill and find our own sources, at least enough to get us by until the Russian pipelines can be put in place. We have L-O-N-G memories.