Definition of Insanity:
Countries are going to start to default in Europe, and I don’t see any way around it. The Euro isn’t toast but its going to have a lot fewer members in 3 years. And speaking of bad news, I don’t see any way to avoid a massive Chinese bubble burst in the next 3 years either.
- There is simply no source of money and will any where large enough to fill in the European debt hole. Heck, there isn’t enough money and will to fix Greece, and that is not a small percentage of the problem;
- Even if the current hole could nominally be recapitalized, it would be virtually meaningless because the no one in Europe is fessing up to any where near the total extent of the problem.