Leeb: Spain Flirts With Disaster As Europe Ready To Blow Apart
April 27, 2012
On the heels of the S&P downgrade of Spanish debt, today King World News interviewed acclaimed money manager Stephen Leeb, Chairman & Chief Investment Officer of Leeb Capital Management. Leeb told KWN that not only is Spain in trouble, but Europe is literally ready to blow apart. Leeb also discussed gold and silver, but first, here is what Leeb had to say about the S&P downgrade of Spanish debt: “It’s really one more sign that Europe is on a terrible track. When you have 25% unemployment in Spain and a huge amount of economic distress in most of Europe, and you are telling people the solution is to spend less money and become more austere, it’s just simple logic that’s not going to work.”
Stephen Leeb continues:
“This is an accident waiting to happen. Sooner or later they are going to have to fire up the printing presses again, and flood the countries with money. Europe is ready to blow apart. People are literally killing themselves in Europe. Suicides are way up because of economic distress.
People are being told that the remedy for economic distress is to spend less. How can you spend less when you can’t even afford to buy enough food? This simply can’t last….