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Page added on November 16, 2012
150 Seconds Of “You Can’t Handle The European Truth” From Kyle Bass
“A popular revolt will happen” is how Kyle Bass sums up the endgame from kicking the can in Europe. Dismissing the headline-making ‘But, Blackrock is buying European bonds’, Bass reminds Bloomberg’s Stephanie Ruhle that very few ever get the crises correct and that the herd will keep buying things until it blows apart. With massively over-leveraged banks and a Greek dependency, Bass notes that investing in Europe now is like picking up a dime in front of a bulldozer and expects Germany will eventually leave the Euro (within 3-4 years) as the ‘joint-and-several’ liabilities will never happen. 150 well-spent seconds to summarize just what is going in Europe, as he concludes with Milton Friedman’s quote on Europe: “when they hit a bump in the road, it will tear them apart at the core.”
Stay tuned to the end for his clear reasoning for why this will not end well…
5 Comments on "150 Seconds Of “You Can’t Handle The European Truth” From Kyle Bass"
Rick on Sat, 17th Nov 2012 12:47 am
Time will prove everything. Not a Zerohedge video, from Kyle.
PrestonSturges on Sat, 17th Nov 2012 1:17 am
Greece probably has an economy roughly the size of the greater Toronto area.
PrestonSturges on Sat, 17th Nov 2012 1:18 am
And if Toronto went broke the world would collapse?
BillT on Sat, 17th Nov 2012 2:22 am
Preston, it is just that Greece is the first domino in the chain, not the last. But, if Greece defaults, Spain, Portugal, Ireland, Italy, then France and on and on with every collapse speeding the next one. They are not only using one credit card to pay another, they are running up bills on ALL of the EU cards daily. How long can you do that before the bank says STOP?
And don’t forget, the US is one of those dominoes and will follow the collapse when it happens. It may take a few more years, or it may happen next Spring. We shall see.
Newfie on Sun, 18th Nov 2012 1:46 am
Greece owes money to French, German, Italian banks. If Greece defaults those banks go belly up.
http://demonocracy.info/infographics/eu/debt_greek/debt_greek.html