I plan on getting in a few mountain biking miles with my oldest and maybe some trail time practicing bushcraft like skills. There is PT in everything this time of year in the south. It becomes an endurance challenge for simple excursions – especially with little girls.
Look out for Greece & Spain before Sunday is out. It won’t be the end of the EU or Euro, but more of a weather vane of the next two quarters.
I had thought about commenting on yesterday’s amnesty announcement, and then I read this here at the Belmont Club via CA. Like CA says, the comments are indeed priceless. Though, this latest vote buying move may be for naught if Vox’s prediction comes true. I’m not sure if I buy that. There doesn’t seem to be enough momentum in the political sphere to accomplish something so drastic this close to the election. I do however, personally believe, that despite anything the republicans (in name only) throw out there, President Urkle will be reelected despite actual vote count…
Rapid petro shock would doom the EU at this point. They will either come together as a unified entity, or fail and dissolve into what they were prior to the formation of the union. Either way, those are favorable conditions for mass conflict. History always has a tendency to come back and smack you in the mouth just when you think, “Oh hey, we got the right people this time. There won’t be genocidal war. Humanity has grown up now. See!”.
“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.”
China is a myth. At it’s core, this statement rings true:
I have held for a long time that the rise of China is a Zero Sum game, slightly modified: Every dollar they earn is a direct result of American policies. The day America chooses to gut the Chinese, it is a simple matter of closing the ports to her imports.
A little pain here…and an E.L.E. in China (Extinction Level Event).
Better believe it Suzi. You can wax poetically all you want about the new Chinese century, and how wealth is shifting east, and I will still echo the concept above. America holds all the cards here, sovereign debt or not.
With regard to war in Europe though. It has been made abundantly clear that the people on the EU have no intention of shrugging off their banking masters’ chains. Berlusconi & Greek Papa-whatever’s resignations are clear signs that the ruling class is still very much calling the shots and running the show.
This is a very big deal. One year ago, the Italian 2-year was at 2.010 and the 10-year was at 3.924 The Italian 2-year is now rapidly approaching where the Portuguese 10-year was one year ago. What this indicates is that the end of the Euro and the end of the EU in its present form will likely take place within one year. Greece and Ireland were sideshows. Italy is the main event.
I would agree with the above statement. This is why my travel plans within CONUS (& especially outside CONUS) have been put on indefinite hold.