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Sunday, July 1, 2012

Endgame Approaching In Europe and A Market Collapse Looming?

Mike Larson: I have a sinking suspicion. A feeling I just can’t shake based on multiple fundamental, technical, and timing indicators. My belief?
The end is near.
No, I’m not talking about some Mayan calendar apocalypse kind of thing. I’m talking about a catastrophic, painful, epic meltdown-type endgame for this European sovereign debt crisis
Could the markets be this close to coming totally unglued?
Why am I so worried about this kind of outcome?
Well, for the better part of two years, European fiscal and monetary policymakers have been trying everything they can to achieve the impossible. They’ve tried to hold back a tidal wave of delinquencies, defaults, recessions, banking failures, and more tied to the gargantuan build up of unpayable debts and other obligations continent-wide!
They’ve held summit after summit. They’ve cooked up plan after plan. They’ve conjured up bailout fund after bailout fund. They’ve spent hundreds of billions of euros propping up Greece, Ireland, and Portugal. Now, Spain (NYSEARCA:EWP) and even lowly Cyprus are knocking at the door, seeking tens and tens of billions of euros MORE in aid.

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