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View Mark Bruns' Comments
Chart Of The Week: As Goes Spain...
Absolutely spot on! Great article!
Spain absolutely should be our primary focus.
I think it's worth spending a few moments thinking about why the news in Greece has been so important to the Liberal fascists like Paul Krugman and George Soros who are such staunch anti-austerity Big Government advocates. The Liberal anti-austerity fascists continue to take every opportunity they can to pound on Germany to do more; at the same time, they refuse to make reasonable requests of the debtor nations to take the appropriate steps to move forward on the path to responsible fiscal policy. Fortunately, there are people like Bill Gross [of PIMCO] who get this right: "Elections which ratify more and more debt cannot cure a debt crisis."
If we want to understand Greece's newsworthiness, we can use a historical metaphor from the 1930s ... Greece in 2010 - 2012 is similar to fascists proxi-wars in the Spanish revolution or the Second Italo-Abyssinian War in Ethiopia ... Hitler and Mussolini brought out and tested their best firepower to evaluate its battle readiness for the bigger WAR that they knew they'd start ... in Greece, Liberals from all over the world are making their strongest arguments in favor radical left wing parties that favor of anti-austerity measures. The moderates and independents in Greece have been lumped in with profligate spenders, the radicals who claim entitlements to early retirement, generous vacation and unlimited education benefits. The Liberal involvement in the Greece elections is a proxy fight for the much bigger WAR that is coming.
The reality is that the REAL war begins in Spain, just as WWII really began with appeasement of Hitler in Munich with respect to Czechoslovakia's Sudetenland. In 1938, the world believed that it could afford to let Hitler have the Sudetenland ... Ambassador Joe Kennedy and FDR even thought it was a good move and pressured the English behind the scenes to do it. Right now, most of the world does not really seem to care about Spain ... but Spain IS where the line in the sand absolutely must be drawn.
I believe that bond markets provide terribly important information about the state of the world; if you want to understand the where the world is going ...it's great to focus on America and what happens in America, but you need to spend some time focusing on Spain, in particular ... and, in general, keeping your eye on the European sovereign debt crisis.
Jul 10 04:36 PM
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