By SD Contributor AGXIIK:
The trade between Japan and Europe and China and Europe will be hit very hard when Europe can’t afford goods from China and Japan. The east will suffer badly as devaluations won’t overcome the recessions and depressions in Europe.
These are real and dangerous tipping points that won’t hold back very long. The people in Italy, Greece and Spain are near the breaking point. I doubt if the Fed will have enough money to bail out Europe when Benny is spending all his political capital in bailing out the US, although I would not be surprised if the Fed doesn’t give it a try, nonetheless.
If we thought 2012 was the year of the epic failure, it may have been just a warmup act to 2013. [Read more...]