Europe has come to believe their own made-up facts…

9 Oct

The EU has been dead for some time…the Commies at the EU just don’t know it — yet…

Europe is in a recession and it is getting worse and it will affect America, make no mistake here, and our earnings season in this quarter and in the next quarter is not going to be pretty. Having made note of that; this is not the point of today’s commentary. Recession drives contingent liabilities into present liabilities quickly and with force and the cattle are now out of control and the stampede has begun. For those of you perhaps wishing for and certainly waiting for some type of “Lehman Moment” to flee; you may find it soon. The danger has always been that Europe will believe its own stuff and then make judgments based upon it and if this turns out to be the case then the decisions will be wrong and the consequences horrific.

The danger is imminent – the “elites” in Spain, Greece, Italy and soon France are in denial, the people are in the streets…

“Poverty is the parent of revolution and crime.”

Zero Hedge



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