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[nimblebear]

that the entire EU is on the verge of financial implosion, and seizure. Merkel's taking steps to "shore up" banks this weekend (whatever that means), but the scale we are talking about is probably $10 trillion of Ben's printed money just as a stop gap given away for free to the entire EU. before more sinkage... Its not just Greece's teeney tiny $660 billion of debt from last year thats the issue. Its the entire domino effect, and Italy, and others in just as poor shape, where the interconnectedness, highly leveraged derivatives, essentially takes you into the trillions of worthless paper on the books, that won't ever be able to be marked to market, but someone is going to have to bite some major bullets (more like nuclear tipped missiles). There aren't enough assets worldwide to cover this mess. So then there is ONLY time, as in decades of indenture, unless the entire world is willing to take a major writedown in its standard of living, being thrown back to the stone age. So to try to stop this would have taken the equivalent of something like erecting a large 2 mile thick, and 100 mile wide wall, to attempt Hurricane Irene from doing damage before it struck. Obviously that would have taken years, not days that were required, since we knew the problem only existed when the storm first developed, so essentially impractical and impossible. Thats the analogy here. So you just let it hit, let it reek its havoc and then spend years repairing the damage. Unlike Irene however, this EU financial implosion will unfold, and will be reeking havoc for years, before anyone can even attempt to clean it up. This of course then translates over to the US, but they go down in earnest well before we do. We will start feeling the collateral damage before then, and have essentially felt some of the winds from CAT 1 already. Its not yet at CAT5, but it will be soon enough. BUT TRULY. PER THE "PRO" ECONOMISTS OUT THERE, THERE IS NO DOOM AND GLOOM ANYMORE.