7 Charts Indicate Why Europe is Doomed

sinking-europe

 

by John Galt
June 1, 2012 05:15 ET

 

(All charts courtesy of Bloomberg.com)

 

Have my readers ever wondered why the financial networks always show 1 year, 6 month, or 3 month charts of stocks, bonds, or indexes whenever possible? Perhaps these seven charts will indicate why they prefer to color the truth and hide the seriousness of the economic realities of Europe. I have posted the charts of the major stock market indexes for the PIIGS plus Cyprus and Hungary to offer perspective as to how severe the problems really are in Southern Europe and will expand to the rest of the world unless a miracle is created out of thin air. The instability these markets have and will continue to create should be considered sobering at a minimum to my readers.

 

Each chart has the percentage drop in value from their peak value in the past five years until the close of trading on May 31, 2012. Let those numbers sink in as one listens and watches the bubblevisions and political elites offer their swill on the airwaves.

 

I. Portugal

II. Ireland

III. Italy

IV. Greece

V. Spain

VI. Hungary

VII. Cyprus

 

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