The idea that Italy’s government is not insolvent is silly. It is going to default. It may take a few months. It may take a year. The fact is, it is so far in the debt hole that it cannot maintain paying interest much longer.
Word is slowly getting out, but just barely. Idiot bankers are still buying Italian government bonds. Idiot politicians in the eurozone are still pretending that default is not inevitable. It is inevitable.
Italy is a very large domino. It is much larger than Greece, which will also default, taking down Italian banks.
European politicians are playing “kick the can.” They are playing “let’s pretend.” So are all politicians. They just want to keep the game of musical chairs going a little longer. They offer no solutions. They just spend hundreds of billions of euros or dollars to buy more time. Time is running out.
A few investment experts are willing to tell the truth. Here is one of them.
