The European Crisis Cycle: Hope, Relief… And Always Disappointment…(Luciferian…Psycotic…Freaks…)

Sunday, July 8, 2012
By Paul Martin

by Tyler Durden

By now we can only hope (pun intended) that everyone has seen the David Einhorn chart showing the circularity of the European “summit-based” decisionmaking process – somewhat relevant since we have had 21 summits since 2008 and Europe has never been in a condition quite as bad as last week when a historic move by the ECB to lower the deposit rate to zero and the refi rate below the critical threshold of 1.00%… and nothing happened (that’s not quite true: JPM, Goldman and Blackrock all made it quite clear European money markets are now officially dead).

The Rest…HERE

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