Europe: Debt Crises Intensifies
Europe, or more specifically its common currency, is founded on an idea more fairy tale than sound economics. This tale is coming quickly to its not so happy ending. This Economic Update Video looks at what’s happened recently and prepares you for what’s next. We’re continuing a series of videos which can be found here.
Today, we’ll look at factors such as: The dangerous levels of weak sovereign debt held at most all major European banks, How this came to be, and most strikingly, what it means to the world going forward. We’ll examine the affects it would have on Germany to bail out all these banks which makes it perfectly clear that this will never happen. This fact alone is really all you need to know to understand that no matter what you hear the politicians say about Europe, the situation is grim to the point of no return. The video takes a look at what austerity is doing to the Greek economy which proves itself already to be the way to a death spiral as well as the funny quote by an Italian politician that they “tried to pretend they were Germans!” These and more in the video below…
We hope you enjoy this video. If you have not seen The Coming Storm video, you should do so immediately to have a fuller understanding of what lies ahead. You can do so for free by going here. Please let us know what you think of this presentation or if you have any questions, leave them in the comment section below.
This is the second in a new series of Economic Update Videos. Watch the first video at: 1) Europe Economic Update 1. You can see the most recent set of Economic Update videos at: 1) US Economic Update Pt 1, 2) US Economic Update Pt 2, 3) US Economic Update Pt 3, & 4) Gold & Silver Update, 5) European Economic Update, & 6) China & the World.