Mark Grant: “2013: The Year The Resplendent Masks Are Removed”
by Mark Grant
You hear it now all across Europe. “We are out of the woods, the crisis has ended, the worst is over” but I take scarce solace from these comments. The numbers have been falsified, the figures have been altered, and that which should have been counted as been ignored as a matter of political expediency. Bills uncounted do not mean that they do not have to be paid and obligations ignored do not erase them. The problems of Greece, Cyprus, Spain and Portugal have been wallpapered over and the “new look” has been sung to the Press and the citizens alike but the wet plaster remains behind the façade and the upcoming peeling will commence in our New Year. More money equates to lower yields in the short run and assurances of health prevail in the world for the moment but the raw data tells another story as capital diminishes and debts build and uncounted liabilities surface once more. 2012 was a year of a vast and complicated charade. 2013 is likely to be a year when the resplendent masks are removed.