May 24, 2012
Ty Andros and I are doing the wrap a little earlier this week. Greece is playing chicken with a loaded gun to their heads. Spain's regulatory bankruptcy becomes more and more apparent. Their losses have doubled in the past two weeks, and they continue to escalate. Their banks have undergone multiple bank runs, which have of course been papererd over. Hollande, France's new socialist leader is attempting to get Euro Bonds to forestall the eventual day of reckoning and to continue to shift the obligations of today onto the generations of tomorrow, who will not pay the debts incurred anyway. The powers that be and the radical socialists that are running most of the governments around the world are in complete denial and will further diminsh the private sector and lead the world to bankrupty. Political solutions that don't address the underlying issue of a population that expects something for nothing, will accomplish nothing.
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