Status Update

The reader will be aware that up until now I could be described as being, emotionally, somewhere between ‘pissed off’ and ‘very, very angry’.

I have now moved on to being just plain scared.

All of Europe’s political elite are living  in a ‘Wonderland’ where they believe they can defy economic gravity by printing fiat-money debt. Granted the EU and the Euro are fantastic feats of political will but this is a case of “Ye canna change laws o’ physics, Jim…”

America is unravelling fiscally and poltically.The domestic economy is imploding despite more QE, the Republicans have morphed into theologians and the Democrats into war-mongers.

Mexico is about to become a net oil importer and thereby lose it’s foreign exchange earnings at the same time as its ‘narco-war’ is intensifying. Similar outcomes are expected in some of the other minor oil exporters.

In Cancun the bickering about not addressing the on-rushing climate catastrophe is going round in circles while adding more data points to the ‘hockey stick’.

It feels like we are repeating the Great Depression. A massive contraction started in the US and was compounded by bank collapses in Europe two years later in Europe. And, yes, there is an overarching debt burden between different sections of Europe, this time between the periphery and the core instead of between Germany and France. Nor are we short of would-be demagogues and racial problems for them to exploit should the hardship worsen.

Yes, I am now just plain scared.