Where is the World Going? – 07/12/2011

Dear Ladies and Gentlemen,

For Your Concern (FYC) :+(

http://www.theatlantic.com/business/archive/2011/07/euro-in-crisis-is-the-italian-domino-falling/241760/

“If Italy goes, it’s not clear that the rest of Europe can save them. ”
“Meanwhile, conditions in the other PIIGSs are worsening. ”
“This will not be pretty.”

http://www.economist.com/blogs/charlemagne/2011/07/contagion-euro-zone
http://www.economist.com/blogs/schumpeter/2011/07/italys-finances-0

“If Spain has long been considered too big to fail, then a full-blown Italian debt crisis would be cataclysmic.”

http://www.cnbc.com/id/43722148

“Earlier on Tuesday, Dutch Finance Minister Jan Kees de Jager admitted to reporters at the meeting of European finance ministers that a selective default on Greek debt was no longer off the table.

Markets fear that Italy, the fourth-largest economy in Europe with debt of 120 percent of gross domestic product, will be drawn into the sovereign debt crisis.”

 

http://www.cnbc.com/id/43718767

http://www.cnbc.com/id/43656127/

 

““Sometimes over the next year and a half all the PIIGS will go bankrupt,”

 

““The debt that they have is unsustainable,” he says. “And the wrong thing to do is increase taxes, which is what they’re doing.”

“Gartman couldn’t agree more. He doesn’t see how increased taxes can possibly benefit these nations when they’re facing unemployment as high as 20%.”

 

“”Trouble is coming,”

 

http://www.cnbc.com/id/43425042

 

In summary, the “window of reckoning”, as some people are calling it, will happen globally, between October 2011 and August 2013……….:+(
Big Hugs and Kisses to All!;+)

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