Friday, November 16, 2012

Euro Zone: Millions Take To The Streets In Protest

On Wednesday (11/14/12) in Spain and Portugal, Italy and Greece and France and Belgium, millions of people took to the streets to reject the stringent budget slashing their nations' creditors have forced them on. But financiers took comfort in knowing the governments of those nations have made these commitments regardless of how their citizens feel about it. Those financiers will be sorry.

For Spain, Portugal, Italy and Greece are already in a Depression, from what began as a Recession four long years ago. And the people in those nations aren't going to honor the financial commitments their governments under duress are making in order to receive more bailout out money, money which contractually will have to be paid back at high interest rates.

In these nations, the people, including their children and their elderly are suffering, and like it or not, the financiers, most of whom are government or government connected lenders, are going to have to take a write off of some portion of their loans to these nations. But for now, they reject that idea, and the longer they do, the worse the situation grows.

Wherever in the world you are, the financial collapse of the Euro-Zone, the world's largest market is going to impact you. China, the world's biggest exporter is already feeling that impact, and so is Japan, another giant exporter.

Dear Reader, my intent is not to alarm you but to inform you, so that when you see or read the news about the Euro-Zone in the U.S., Canada and elsewhere suggesting you won't be affected, you will know better and can take protective action. This world has become very small. When our brethren in one part of the globe are affected, ultimately we will all be affected.


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