Off the Cuff: Building Bailout Rumors
In this week's Off the Cuff with Mish & Chris podcast, Mish and Chris tackle:
- Rumors of Bailouts in Europe
- Germany looks like it may be willing to compromise, and many pundits are hinting that the US may pitch in.
- A 'Nannycrat' Future for the EU
- The clamor for more central authority is increasing, but will the populace vote for it?
- A New Drachma Backed by Silver?
- An interesting proposal worth considering...
The situation in Europe continues to drive market sentiment, as does increased speculation that -- to prevent contagion from crossing the Atlantic -- the Fed is preparing to ease again. With all of the machinations being discussed, there really is nothing new in terms of actual progress. The proposals being considered (like the new Spanish "FROB") are simply shell games designed for optical purposes, nothing more. The key question remains unanswered at this point: Who will take the colossal losses on Europe's bad debts?