by: Mark Sircus., AC, OMD
Friday, July 15, 2011
“There is a growing sense of despair in Brussels. Unlike previous attacks on the euro project, the latest downgrade of Portugal’s debt by the ratings agency Moody’s feels like the beginning of the end. Those economists and fund managers, who argued that a second bailout for Greece with private sector involvement would mean something similar for Portugal and most likely Ireland, are hitting their target. Like a 19th century battalion holding the line against oncoming hoards with depleted firepower and an officer class at war with itself, the euro’s supporters are in a desperate situation,” writes the Guardian.
These elites do not have a vision. They know only one
word: more. They will continue to exploit the nation, the
global economy and the ecosystem. And they will use
their money to hide in gated compounds when it all implodes.
If you thought the global financial crisis of 2008 was difficult, wait till the sequel comes to your doorstep. Some investment professionals feel that the sky could soon be falling as recent events have led many to brace for the worst. The world and everyone in it should be preparing for some very difficult days ahead but that is not happening because most are drinking some kind of happy tea. An unprecedented financial storm of unknown scope and dimension is upon us but it is crushing certain people, cities, states and countries before others. Many are perceiving and reporting that the fundamental economic outlook has changed substantially over the last couple of weeks.