Media Appearance: Dylan Ratigan Show

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I will be swinging by Dylan’s place this afternoon about 4:15pm to discuss the problems in the EuroZone, the possibility of a recession, and of course, the Big Lie in finance:

A few bullet points:

Greece is a small dysfunctional economy with a disastrous set of policies — it will be painful, but not impossible for them to default or leave the Euro.

Italy is a large robust economy with a disastrous set of deficits — it will be disastrous and impossible for them to default or leave the Euro. They will be bailed out or the Euro will collapse.

Spain is a large dysfunctional economy; they cannot restructure or grow their way out of their problems — like Italy — and they  cannot defaulty or leave the Euro like Greece. The options for EU policy makers re: Spain are terrible or awful.

US Bonds remain a safe haven

More to come later.

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