Monday, July 2, 2012

So Far The Biggest Banking Fiasco EVER is Upon Us; PMIs Down Globally – Told Ya So. LOL.

Just a day of rally from last week’s developments in Europe? Let me be blunt: NOTHING good will ultimately come from the European TARP-like scheme to shore up Spanish, Italian banks and other European banks. There will be NO good outcome from so called printing, or shuffling of debt from an official bank balance sheet to Frankenstein junkyard of bad debt. Any repudiation, or transfer of debt, or whatever it shall be called comes at a cost and that cost will ultimately be paid by taxpayers via a direct increase in taxation, or through austerity, or both.... PLEASE READ MORE and be disturbed HERE:

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