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Sovereign defaults are coming

“Orderly default” in Greece? Good luck. It’s not if Greece defaults but when.

S&P just downgraded Italy

None of the fundamental economic problems in Italy or Europe or anywhere else have been addressed … let alone fixed. So the problem will only spread.

Fraud largely caused Italy’s – and Europe’s, and the entire world’s – financial problems.

There is a bank run now ongoing in Europe.

Summation:

Let’s be honest: We’re seriously due for a bunch of sovereign defaults right about now

All brought to you by Wall Street banksters and the Fed, who insist upon throwing good money(our money) after bad, so the bankster bondholders don’t have to take a haircut on their bonds.

But their criminal greedfest is over. There’s no way to kick the can down the road with sovereign defaults. And people are going to be seriously pissed. These parasites have knowingly cratered the economy of the US and Europe. There will be payback.

  • I agree that a tidal wave is coming, and I would love to think there will be pay back, but I have this horrible feeling that there will chaos in country after country with the people suffering on a scale not seen, while the elite bunker down in some sewer and wait until the time is opportune for them to crawl back out of their sewer and start to use their wealth to regain power, and the desperate people will walk once again down that road of capitalism, personal gain over community, greed and profit, as the main rules of the game.

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