Eurozone Meltdown

Mark Noonan

Both Mish and Zero Hedge are keeping an excellent running commentary on the Eurozone crisis.  To nutshell it – the bailout of Greece has failed completely (with Greek bond prices rising above 30%) and the contagion is spreading to Italy, where they are doing financial backflips to stave off collapse.

We’ll see if they can pull it off – my view remains the same:  even if they manage to plug the leak here, the dam is so swiftly collapsing that it will just move to one of a dozen other places.  Collapse is inevitable – there isn’t enough money in the world, not if Bernanke and the ECB printed day and night for 100 years, to make up for all the garbage debt there is in the world.  The only question is how bad it will be – repeat of Lehman in 2008?  Or complete financial melt down?  Time will tell – but we have to get through the crash before we can start to rebuild – the bogus debt and fake wealth has to be liquidated so that everyone knows where they stand, then we can rebuild (and, hopefully, with a bit more wisdom).

9 thoughts on “Eurozone Meltdown”

  1. js's avatar js July 12, 2011 / 7:08 am

    the old story about the rabbit and the squirrel comes to mind…the rabbit just as joyful as ever…just dances and prances and gets about his way…while the squirrel works and collects and gathers for a winters day…along comes a new characture…this one is a mocking bird…who borrows and spends and chatters about success…

  2. thomas's avatar thomas July 12, 2011 / 9:40 am

    That’s correct neo,

    Mark has an interest in this economy crashing, I’d say you do as well…what’s with the sudden change of heart?

    • thomas's avatar thomas July 12, 2011 / 9:41 am

      wow. shocked I tell ya.

    • neocon1's avatar neocon1 July 12, 2011 / 3:45 pm

      well I decided that I should be more civil and start to see the world in a different way. the Princess made me see the light.

      laughable troll alert

    • neocon1's avatar neocon1 July 12, 2011 / 3:47 pm

      gasbagger

      jomama

  3. Amazona's avatar Amazona July 12, 2011 / 11:06 am

    Mark, it appears the new format has a serious design flaw, in that it allows anyone to post under any name.

    True, it does allow the Lefty trolls to illustrate their innate dishonesty and lack of ability to mount any sort of rational argument, depending instead on childish gamesmanship, but it sure does make any reasonable discussion impossible.

    • neocon1's avatar neocon1 July 12, 2011 / 3:45 pm

      You have hit the nail on the head Ama….the trolls can now pose as anyone.

    • Mark Noonan's avatar Mark Noonan July 12, 2011 / 4:46 pm

      I’ll mention that to Matt.

  4. neocon1's avatar neocon1 July 12, 2011 / 3:47 pm

    doom and gloom again.

    by now you have a vested interest in this economy collapsing for the simple reason that your credibility will be shot if it doesnt! ha.

    FOOL alert……Ha what an Amateur!!

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