Greek credit default swaps are going through the roof as no one really believes the Greeks have controlled their spending.
The Irish are unwilling to mortgage themselves to the European Central Bank…but this, in turn, puts all of the Eurozone at risk.
Wal Mart can’t shake off the sales doldrums.
China’s running ’round like a chicken with its head cut off as everyone tries to figure out just how high Chinese inflation is (hint: its probably a lot higher than the official government better-agree-with-them-or-we’ll-shoot-you numbers).
Interest rates are rising in spite of the Fed’s efforts.
Government employees owe billions in delinquent taxes.
Portugal goes to the brink of default.
All in all, I get the distinct impression that no one really knows what is going on, or has even the first clue of what to do – mostly because they are all trying to shore up a failed economic model based on usury and fiat money.
Will they hold the line this time as they did in the spring? Possibly – but one day it will all be done; it really can’t go on forever.
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