Crying Wolf
Bill Quick

‘Black Friday’ Blame-Game Escalates As Spain Is Out Of Money In 40 Days | ZeroHedge

With Valencia bust, Spanish bonds at all-time record spreads to bunds, and yields at euro-era record highs, Spain’s access to public markets for more debt is as good as closed. What is most concerning however, as FAZ reports, is that “the money will last [only] until September”, and “Spain has no ‘Plan B”. Yesterday’s market meltdown – especially at the front-end of the Spanish curve – is now being dubbed ‘Black Friday’ and the desperation is clear among the Spanish elite. Jose Manuel Garcia-Margallo (JMGM) attacked the ECB for their inaction in the SMP (bond-buying program) as they do “nothing to stop the fire of the [Spanish] government debt” and when asked how he saw the future of the European Union, he replied that it could “not go on much longer.”

Yeah, yeah. A commenter to this article put it best:

this shit is getting old,,,,,

Indeed. I’ve been hearing predictions of the imminent doom of the Euro/Eurozone/ECB/Whatever for going on two years now, but the great bleeding hulk just keeps right on shambling along.

Which is why I no longer pay a lot of attention to the coverage of the situation, since there’s no point in getting all worked up unless and until somebody actually exits the Euro/Eurozone.

Of course, most of my preps are completed. Your mileage may vary.

This entry was posted in Economy, Europeans, Eurozone by Bill Quick. Bookmark the permalink.
Bill Quick

About Bill Quick

I am a small-l libertarian. My primary concern is to increase individual liberty as much as possible in the face of statist efforts to restrict it from both the right and the left. If I had to sum up my beliefs as concisely as possible, I would say, "Stay out of my wallet and my bedroom," "your liberty stops at my nose," and "don't tread on me." I will believe that things are taking a turn for the better in America when married gays are able to, and do, maintain large arsenals of automatic weapons, and tax collectors are, and do, not.

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