by John Galt
July 31, 2016 10:00 ET
Everything is great.
All is quiet on the Western Front, Eastern Front, and Main Street economies with sluggish growth but new all time highs in key equity markets promoted for television purposes.
The problems in Portugal, Ireland, Italy, Greece, and Spain are solved because CNBCCNNFBNFNCBBG does not want to cover them on a daily basis.
Hence it’s all awesome:
Despite the fact that the over indebted United States has managed to hyperinflate its way into a new all time high in equity markets, one of the original sources of the financial crisis of 2008 expanding, the PIIGS, plus much of Europe are about to toast, roast, and fry investors for another ride any time now. Except for Cyprus, and anyone intelligent can see why in the chart below.
How bad is it?
Check out these charts of the PIIGS stock markets and the new candidates to join them as the next crash occurs:
1. Portugal DOWN 65%:
The nation has never recovered despite tens of billions of Euros being poured into their economy and guess what? Portugal is in the news as more trouble is on the horizon.
2. Ireland DOWN 41%:
The stock market recovered more than most but still is only inflated by British, American, and European gamblers betting on their low tax/low regulation economy recovering for good. Unfortunately, the Irish housing market which triggered the nightmare is still unstable along with the risks of another down turn globally put Ireland in a precarious position.
3. Italy DOWN 62%:
No reason to kick a dead pizza. This sucker is going down 80% before it goes higher 10%.
4. Greece DOWN 90%:
Good news! They proved Bernie Sanders and Hillary right: Socialism doesn’t work but it does create starvation and an economic collapse.
5. Spain DOWN 46%:
And thus the original PIIGS are all in the toilet, still in bear markets, and no threat to spreading throughout established and developing markets in Europe, right?
6. Austria DOWN 55%:
There is a wizard of finance from one of America’s or Great Britain’s now defunct speculative banksters working inside of Austria; at least that’s what I think. Because they decide it was a brilliant idea to sell mortgages to poor nations still developing their economies after years of communist and dictatorial rule denominated in Swiss Francs. Awesome eh? The Austrian banking system is the next crisis nobody wants to talk about (but I did years ago).
7. Croatia DOWN 67%:
Definitely time to invest in hot blonde Polka singers. Or short the crap out of Croat anything…
8. Cyprus DOWN 99.2%:
Uh, ummm, er:
9. Iceland DOWN 85%:
At least they got rid of the yoke, arrested the guilty parties, and pissed off the banksters. But uh, no. It’s herrings and not stocks worth money there, whatever little money they have.
10. Poland DOWN 55%:
The future of NATO and the EU is now officially in a Bear market which makes bears blush. And if you see a bull in Poland, it’s going to be slaughtered for food. Just sayin’.
11. Serbia DOWN 81%:
First NATO and America bomb the dog snot out of Serbia. Now that they have had rigged elections and are pro-EU, pro-NATO, the banksters come in for a second pass and bomb the crap out of their economy.
Maybe this song from my old radio program is more appropriate than the ‘Lego’ Movie song: