We love Italy. We do not love their central bankers!
Italian officials and bank executives have agreed to create a €5 billion ($5.7 billion) fund to help lenders that are in quite the trouble. Only one problem…there is about €360 billion of bad loans. There is a lot more where this came from in many other countries. Remember what we have told you, places like Greece were not fixed. All the maniacs did were write a bigger credit card to pay for the previous credit cards. All the maniacs did were to make the kicked can even bigger as “down the road” will be much worse than need be. And remember, we are the doofusses with $19 trillion of debt. But don’t worry!
I’ve read the U.S. ALONE has one third more debt (on & off book “unfunded” such as Social Security,etc) then the total
value of the WORLDS equity & bond markets combined. Are we facing 1933 German inflation, 1929 U.S. deflationary debt
collapse or 1800’s English industrial revolution recovery from debt (fat chance given the U.S. socialist bent)!
Non-rhetorictorically, How does one hedge ???
There is a ton…trillions of debt…outcome? In time!
Gary K,
We live in Phoenix and used to enjoy listening to your radiio show Monday through Friday.
Is it still available, and if so, when and on what station is it being broadcast?
Well there is a lot to worry about. Hope this is not the beginning of a new world financial crisis!