It’s a new century. Time for another war.

Europe is about to go through one of those crisis’ that are usually a prelude to something horrible.

“Time is running out fast.  I think we have maybe a few months — it could be weeks, it could be days — before there is a material risk of a fundamentally unnecessary default by a country like Spain or Italy which would be a financial catastrophe dragging the European banking system and North America with it. So they have to act now.”

“The only two guns in town, one is only theoretical, and that is increasing the size of the EFSF to 3 trillion.  It should happen but it can’t for political reasons.  The other one, the only remaining share is the ECB.  They may have to hold their noses while they do it, and if they don’t do it, it’s the end of the euro zone.”

Just sayin’…

 

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