Daily Reckoning’s Bill Bonner on Europe’s Sisyphean task or “endless and unavailing, as labor or a task” (Wikipedia.org)
European banks are stuffed with debt from insolvent governments. Governments are stuffed with debt from insolvent banks. Proposals on the table include plans to issue more debt by governments…or more debt by the banks. It’s fun to watch, but there’s no light at the end of the tunnel.
Two drunks propping up each other.
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