The ramifications of the Europe event will produce a domino effect that will topple other financial systems and economies. When you see the US, probably via the Federal Reserve and the IMF, provide funds for Europe that will be the signal that the end is very near.

From Monty Pelerin’s World

Phoenix Capital Research is not shy about forecasting. Nor do they qualify these forecasts with lots of weasel words. Here is their take on Europe:

Again… Europe. Is. Finished.

The Great debt Implosion will hit Europe within the next 14 months and likely much much sooner. When it dues, we will see numerous debt defaults and restructuring on both the corporate and sovereign levels. We’re also very likely going to see significant portions of the European banking system collapse “Lehman-style” along with subsequent HUGE losses of capital.

The impact of this will be global in nature. The EU, taken as a whole, is:

1)   The single largest economy in the world ($16.28 trillion)

2)   Is China’s largest trade partner

3)   Accounts for 21% of US exports

4)   Accounts for $121 billion worth of exports for South America

So if the EU banking system/ economy collapses, the global economy could enter a recession just based on that one issue alone (ignoring the other issues in China, Japan, and the US).

So if you have not already taken steps to prepare for systemic failure, you NEED to do so NOW. We’re literally at most a few months, and very likely just a few weeks from Europe’s banks imploding.

I am not as brave as Phoenix Capital in terms of forecasting, although I do agree with their conclusion that Europe is finished. If we differ at all, it is only regarding the time frame. I think it may be longer than a few months.

The ramifications of the Europe event will produce a domino effect that will topple other financial systems and economies. When you see the US, probably via the Federal Reserve and the IMF, provide funds for Europe that will be the signal that the end is very near.

Europe borrowing from the US is akin to one homeless person lending to another.

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