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I have a theory on Europe!

This may sound crazy, but I am starting to believe that the “extend and pretend” on Greece will continue until mid August. In fact, Europe’s ECB will be looking to a restructuring date a week or two after America’s August 2nd debt ceiling. Europe maybe taking the view that if everyone is concerned with America then maybe no one will pay attention to Europe. My take is that they are betting that the world can only have one major crisis, so if its America in August, Europe can do its thing and no one will notice.

Call me crazy, but for the life of me, I cannot understand the ability of Europe’s leadership to disregards the reality that Greece’s contraction in governmental spending has lead to a contraction of the GDP, now they are looking to maybe continue lending to Greece with the hope that they will achieve a different outcome. Greece was give 12 parameters that were to be met so that further lending could occur, Greece failed to meet all 12!

Insanity is pursuing the same action over and over and hoping for a different outcome!

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