we have simultaneous economic distress on every continent
the world is in no way prepared for what comes next with Japan
for several years, experts have said Japan implosion is coming
and for years, it was stalled
why now?
because of the worldwide recession (the Post-Y2K Recession)
Mauldin cites Weldon on the imminent Japanese bank implosion
why now?
because of the worldwide recession which forces its hand
this will eventually result in liquidation of Japan's best assets...
UNITED STATES TREASURY BONDS
a banking system complete implosion awaits Japan
they rescinded their limited bank deposit insurance coverage
that wont matter as currency collapse will result as soon as they monetize their bank system losses
the yen will plummet, lifting the dollar temporarily
but the winner will be gold across Asia
China faces deflationary ravages also
I read that 75% of their nation's lending comes from 4 big big big banks
and 3 of the 4 are at risk of total insolvency now
other Asian economies are faring little better
they are seeing their currency rise versus the USdollar, thus ripping shreds out of their export business profit margins
later, their bank reserves held in TBonds will suffer
as America buys less trinkles, Asia economies will grind to a halt
Europe is also in a mess, whose origins are not so much debt-based and inflated asset-based
they suffer from both the heavy weight of socialist systems and complete and utter stupidity by EuroCentralBankers
they are still fighting inflation, when the vicious killer DEFLATION is ravaging its landscape
last week DoucheBag Duisenberg at the ECB decided to leave rates alone
wow, stupid
last week German Congress decided to rescind a tax cut in response to horrendous damaging floods
wow, stupid
now Europe is on course for a recession that will precede America's
South America is a basket case
they are not so different from the United States really
except their sovereign (read: govt) debt to NYCity banks, London banks, German banks, Spanish banks is not securitized in the form of Treasury Bonds like the US federal debt
so SudAmerica will implode as its bank system collapses
if only they nationalized their gold/silver mines and created new backed pesos
that leaves Middle East and East Asia
no education, no entrepreneurial spirit, no economic intelligence whatsover
only bullshit headupass Islamic teachings and poverty
not to mention tyranny
well, also squandered oil wealth that never reached the masses
there you have it, covering the continents
get ready for the MOTHER OF ALL RECESSIONS
coming to a nation near you
I remain, A Jackass |
