Last week I gave you a run down on the bad news on European banking system data. Now, for the really bad news, here's a look at the weak sister countries in the system and some broad data, which shows just how widespread and scary the numbers are. The problem is that Europe's banking system is the biggest in the world. And QE and negative interest rates (NIRP) have, at best, only stabilized a terrible situation.
For The European Banking System-- Bad News and Really Bad News
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David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.