Active Volcanoes of Debt
“Race against the clock to save the euro,” screams Le Figaro this morning.
The Dow fell 58 points yesterday. Oil rose to $97 a barrel, while gold went up $13.
What’s up? We don’t know. But we see a lot of banana peels on the financial sidewalks this morning. Be careful, dear reader; be very careful.
One headline tells us that the French plan has been abandoned. Another tells us that a new rescue plan is in the works. Still another contradicts the first two.
Germany doesn’t want a Europe where money is transferred from the ants to the grasshoppers; it doesn’t want Greeks and Portuguese using the Teutons’ credit card. France doesn’t want a Europe in which its banks are allowed to go broke because of nothing more than their own incompetence. And Italy doesn’t want a Europe without bunga-bunga parties.
Read more: Active Volcanoes of Debt http://dailyreckoning.com/active-volcanoes-of-debt/#ixzz1U9Te0VJ1
Comment: Once again we get the prove that the world is a tragic joke.
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