November 7, 2011
What is going on in the world today is both frightening and historic. It is frightening because the amount of debt accumulated is orders of magnitude more than ever before. It is historic because the way this finally shakes out will be considered a major turning point in modern history.
I see this, but most people in the world are either in denial, delusional or just a victim of disinformation by the mainstream media (MSM). If you read this site often, you know I heavily source what I write about. I do this because I want people to have solid information and analysis. For example, just last week, a Morgan Stanley analyst named Joachim Fels sent a research note out to clients that talked about the EU sovereign debt crisis. Here is part of what Mr. Fels said, “This past week, by raising the possibility that a country might (be forced to) leave the euro, core European governments may have set in motion a sequence of events which could potentially lead to runs on sovereigns and banks in peripheral countries that make everything we have seen so far in this crisis look benign.” (Click here to read the entire story from Zerohedge.com.)
This Morgan Stanley analyst is talking about bank runs and is painting a calamitous picture of the EU sovereign debt problem. I believe that most people haven’t a clue about what is going on and how their lives are going to change for the worse.
This article was posted: Monday, November 7, 2011 at 9:50 am