JAMES TURK: "We Are Getting Close To The END GAME"

I think we are getting close to the end game. There are so many problems and hot spots around the world it is difficult to say which one will blow up. One of them is going to blow and that will set off a chain reaction leading to the Lehman moment I have been expecting.

These loans that the banks have made will not disappear, at the end of the day they have to be written off. Who is going to pay for all of this? Government’s think they can avoid the final day of reckoning, but history teaches us that thought process is misguided and false. Losses have to be taken, somebody has to pay for them.

As European taxpayers reject future bailouts, banks will have to come to grips with their insolvency. This means that more bank failures are inevitable. The bottom line is that the can the central planners have been kicking down the road has now turned into a two ton boulder. Let them try kicking that down the road.”

[link to kingworldnews.com]