Globe-collapse is short for global economic collapse.
Equity, bond and commodity markets globally fell every day last week. And in fact equity markets globally have now fallen for 10 consecutive sessions, which is unusual. This would indicate that the pace of globe-collapse is now quickening.
Last week was just another typical week in the inexorable march to globe collapse. What did we see? We see what we see every week, a continuous string of deterioration. Last week for example the credit ratings agencies Standard & Poor's, and/or Moody's and/or Fitch's downgraded Spanish debt once again. They declared Hungarian sovereign debt to be "junk" status. Then they topped off the week by further downgrading Belgian sovereign debt.
Also German finance minister Wolfgang Schauble made some ominous comments early in the week -- and the markets reflect that the European crisis is now moving closer to the core (meaning Germany and France) and beginning to infect the core.
Equity, bond and commodity markets globally fell every day last week. And in fact equity markets globally have now fallen for 10 consecutive sessions, which is unusual. This would indicate that the pace of globe-collapse is now quickening.
Last week was just another typical week in the inexorable march to globe collapse. What did we see? We see what we see every week, a continuous string of deterioration. Last week for example the credit ratings agencies Standard & Poor's, and/or Moody's and/or Fitch's downgraded Spanish debt once again. They declared Hungarian sovereign debt to be "junk" status. Then they topped off the week by further downgrading Belgian sovereign debt.
Also German finance minister Wolfgang Schauble made some ominous comments early in the week -- and the markets reflect that the European crisis is now moving closer to the core (meaning Germany and France) and beginning to infect the core.
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