I was up until 5:30 in the morning reading research regarding the European Union and possible collapse of the Euro. This is not something you should be laughing about over your stupid cocktail parties. Since when have the fucking Germans been a people who know what is right for the world? It’s in their DNA to be dicks and now they sit at the head of all tables. More importantly, a disorganized collapse of the euro is likely to result in terrifying carnage the world has never seen. Is it worth it?
I am reading about 50% reductions in GDP under a worst case scenario collapse, which is what we are heading for. Did you get that? 50 fucking percent.
What would happen if EU member states saw their GDP’s drop by 50%? Well, for one, most banks and corporations dependent on short term lending would fold. Most deposits would vanish into thin air and the entire continent of Asia would melt down, as they are Europe’s #1 trading partner aka the western world’s factory. Then the ripples would reverberate worldwide and we’d get the ax too. I know you Tea Party fuckheads do not believe this, as you “feel” failures must fail no matter the scenario. You are all sick, twisted, fuckers, deserving of famine.
To this day, you believe we would have been better off letting the entire western financial system collapse in 2008. You declared “it wasn’t such a big deal” and TARP was nothing more than “liberal mumbo-jumbo.” Well, soon enough, the Grandfather of all Tea Parties, the cocksucking Germans, will teach us all a lesson in economics 101, through their sheer stupidity.
At -50% GDP all big banks/insurance outfits are gone. At -50% GDP, corporate earnings will be negative on the S&P 500, allowing for valuations to drop into a sinkhole. Without a doubt, Dow 5,000 would be too expensive under such a scenario. After all, most of the Dow 30 components will file for bankruptcy protection. Let’s just say the FAZmobile will be the Rolls Royce of investment vehicles.
Under such a scenario, underfunded pensions would either collapse municipalities/corporations, which would result in broad insolvencies, or the mass reneging on commitments would take place. Choose your poison.
Oh, I hope you have money in the safe because all of your savings will be wiped out, until the FDIC is made solvent again by the Federal government. Over in Europe, there will be revolutions to overthrow the dicksuckers who caused this crisis. German hatred will soar to wwII levels and Europe will be fractured for decades. Unemployment will likely be in the 50-70% range, leading to pain on an unimaginable scale.
But of course we must “take the hits now” because, after all, we’re capitalist and that’s what capitalism is all about, no? Has it ever dawned on you that none of this horseshit was capitalism in the first place? So now you want to cure a socialism problem by capitalistic means? Good fucking luck with that.
An unmitigated disaster looms and awaits. I’ll see you on the bread line.
NOTE: Italy needs to go to the bond market for 30 billion in late January. Should we make it until then and a resolution to print euros has not been reached, that will most certainly be the date the world stops turning.