On 08/03/2011 10:08 AM, emptybill wrote: > Europe on Brink of 'Major Financial Collapse': Guggenheim CIO > Published: Tuesday, 2 Aug 2011 | 1:24 PM ET > > By: Gennine Kelly<http://www.cnbc.com/id/15837548/cid/154698> > Web Producer, CNBC > > Europe is a "train wreck" and on the "brink of a major financial crisis > <http://www.cnbc.com/id/38451750/> ," Scott Minerd, CIO of the > fixed-income firm Guggenheim Partners, told CNBC Tuesday. > > "The way Europe is operating right now > <http://www.cnbc.com/id/43944476/> , it's what I called recently > 'cognitive dissonance,'" Minerd said, or "basically doing the same thing > thinking they're going to get a different outcome." > > "They keep throwing more and more liquidity at it thinking it's going to > get better and it's not," he added. Europe fails to recognize that it > has a "structural problem, not a liquidity problem." > > People will "flee the euro" unless they find a way to bifurcate the euro > in some way where strong countries are in the euro only and the weak > countries are out, Minerd explained, adding, "To be honest with you, I > don't see the mechanism to do that." > > "As the capital is flooding out of Europe, which we're starting to see > now, the first place it's going to go is to the safe havens—[U.S.] > Treasury-s<http://www.cnbc.com/id/15839203/?site=14081545> , which [the > market] perceives to be safe, and it'll chase gold > <http://www.cnbc.com/id/15839171/?site=14081545> ," he added. > > Compared to a 2 percent return on Treasury notes, investors will > eventually say that "stocks with price-earnings multiples of 12 or 13 or > 14 look relatively cheap, and the growth for corporate earnings in the > United States is very good, and this is likely to help us," said Minerd. > > The United States is "the least dirty shirt in the bag," Minerd > concluded. "We have a very good chance of seeing equities > <http://www.cnbc.com/id/15839215/?site=14081545> up maybe another 10 > percent [over the next six months] from where we are." > > …………………………………………………………………………..
Greece is having a bank run. These countries should have done what Iceland did and tell the banksters to get lost. Iceland has direct democracy and 90% of the population voted to tell the banksters to go to hell. Their economy is beginning to pick up. The majority of Americans told their representatives to vote against the bailout in 2008 but the representatives ignored them. If the US had direct democracy we would be in much better shape today the world would be rid of these age old felons who enslave humanity. ------------------------------------ To subscribe, send a message to: fairfieldlife-subscr...@yahoogroups.com Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!'Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/FairfieldLife/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/FairfieldLife/join (Yahoo! ID required) <*> To change settings via email: fairfieldlife-dig...@yahoogroups.com fairfieldlife-fullfeatu...@yahoogroups.com <*> To unsubscribe from this group, send an email to: fairfieldlife-unsubscr...@yahoogroups.com <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
