The REAL Crisis Has Just Begun…” entire countries (including the US) will go bust.”

Monday, June 29, 2015
By Paul Martin

By: Graham Summers
GoldSeek.com
Monday, 29 June 2015

As we have been noting throughout 2015 thus far:

There is no recovery. There is only the bond bubble. And everything has been done to prop it up because when it bursts (as all bubbles do), entire countries (including the US) will go bust.

Greece is just the first domino to fall.

Indeed the front pages of the financial media today show an interesting tale: both China and Greece are experiencing debt implosions, the former being a margin debt fueled stock market bubble crashing while the latter is on the verge of defaulting on its sovereign debt.

China is long held to be the engine

As we wrote in April:

China is thought to be the great growth story of the post-2008 era. China’s economy not only bottomed before the developed world, but by most accounts, China was thought to be the engine that pulled the world out of recession, thanks to its near-clocklike hitting of 7%+ in GDP growth per year.

Today, China remains central to the notion that the world is in recovery. As Japan’s Abenomics gamble sputters out economically while Europe continues to deteriorate and seems at risk of even breaking apart, it is China and the US that are held up to be the last remaining sources of economic growth for global economy.

The Rest…HERE

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