CNN Money : Meredith Whitney: We already are Europe

October 5th, 2011

CNN Money
October 5, 2011
By Megan Barnett

Meredith Whitney pointed out that she was wearing red, white, and blue on stage at the Fortune Most Powerful Women conference on Wednesday, even though her message about the state of affairs in the U.S. is about as bleak as they come.

Whitney, CEO of the Meredith Whitney Advisory Group, sounded alarms about the increasing divide between the haves and the have-nots here in America – a situation that will almost certainly lead to more social unrest. When asked if we’ll become Europe, she concluded: “We already are Europe.”

The comparison can’t be made on a financial level, she admitted, but at the social level it’s similar. Some of the same issues that led to the Arab Spring movements and protests in Europe are becoming prevalent in the U.S. “It’s us against them on every level,” she said. “We have to raise the collective spirit in this country.”  Read More…