Thursday 14 July 2011

Mish's Global Economic Trend Analysis: Sheer Panic; EU Revives Default, Buyback Ideas; New Strategy Coming "Shortly", No Timeline Set; Here's a clue: They are Clueless

Germany's attitude to debt forgiveness is interesting given what happened in the 1920's! At that time France refused to forgive Germany's debt, and look at the consequences!

Would Greece, Italy, Spain, Portugal, Ireland ever become fascist states outside the EU? Unthinkable or likely?

No our best bet is massive default, a few really big bank failures, and countries paying their way afterwards?!

How long can the IMF now keep the illusion going that people will tolerate unreasonable transfers of wealth to unscrupulous banks. It is not thinkable as a sustainable international monetary policy.

Banks need to shrink, the big implode happen and shareholders in banks take a massive loss for their sins!

Big bangs have to have big implosions or have we forgotten the cyclical physics!

http://globaleconomicanalysis.blogspot.com/2011/07/sheer-panic-eu-revives-default-buyback.html

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