It's Friday so it's time again to check out the big "fat mess" in Europe.
It's hard to find anything positive about the situation over there. There are reports from Germany that the crisis could last two more years.
It's hard to find anything positive about the situation over there. There are reports from Germany that the crisis could last two more years.
We will be impacted in several ways:
1) Our banks have loans to countries, as well as public & private enterprises. We are exposed. We can't afford a collapse because it will put pressure on our banks.
2) Europe buys billions of dollars in US products. We export a lot of stuff over there and can not afford any further drops in demand.
3) There will be more and more calls for a bailout. We can't do that. We can't afford it. Also, you can't bailout the big "fat mess" in Europe anyway. We need to force the European political class to make the tough calls, hit bottom and squeeze "the welfare state" out of their system.
Click here for our Friday show with Dr Ileana Johnson-Paugh:
Tags: The big fat mess in Greece and everywhere else in Europe
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