Off the Cuff: The Heat Is On
In this week's Off the Cuff with Mish & Chris podcast, Mish and Chris opine on:
- The Eurozone's tightening vice
- The likelihood is increasing that the real moves will come under the declaration of a "financial emergency"
- The deepening LIBOR scandal
- The web of conspirators continues to expand, but will any indictments result?
- Will extreme weather impact grain prices?
- Heat and drought may nix the current forecasts for a record harvest
As the temperature rises to broiling levels across the US, EU leaders are sweating about how to slow the solvency issues a growing number of Eurozone countries face. The latest machinations suggest there is little room left to maneuver in kicking the can further down the road, so Mish and Chris suspect "emergency measures" may be declared to ramrod unpopular measures through. Meanwhile, France's headlong descent into further socialism accompanied by the growing size of the LIBOR-fixing deceit make even the most sanguine wonder how Europe will possibly emerge from it's current woes without permanent damage to its stability.