The Euro Crises

by Wes Bridel on July 25, 2011

in Economic Updates

We’ve spoken much about the Euro Crises here and thought it time for a quick update.  I’m writing this on Thursday the 21st and as of today, everyone in Europe is breathing a big sigh of relief because the crises has been averted.  The Northern European “Haves” have agreed to once again bail out the Southern European (in this case Greek) “Have Nots”.  Does this sound familari to anyone?  We first made a video dedicated to this subject 14 months ago here when this brewing crises really started to hit the news (although we had warned of 7 months prior.)

If you remember, that situation was papered over when Northern Europe lent Greece more money.  So the country that had too much debt was given more debt and told to change their ways.  Well, here we are a year later and Greece has run out of all that money and suprise suprise…they need more money.  Actually, they need alot more this time because they have more debt than they did last year.

So we are told that everything is solved because Northern Europe is lending them more money!

Do you really think this is solved?  You would be a fool if you did, but our readers are certainly not as foolish as the political elite believes that most people are.

So the real question is…When does this all really blow up?  Does the attention now immediately turn to one of the several other European countries that have severe debt problems (Italy, Spain, Portugal, Ireland, Belgium…and perhaps France?)  Or does attention now turn away from Europe and now focus on the fact that the biggest debtor in the world by far is the United States?

It’s hard to say exactly how things will progress from here, but it seems clear that the second half of this year will see some economic fireworks.  I hope you are ready dear reader!

I read a very funny personification of the Euro Crises last week and thought I would share it here.

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