Wall Street Fear: What does it all mean? It means we're on the brink of another financial crisis.

[Better Believe It]

August 22, 2011

"Open Your Eyes: the Euro and Europe are on the Edge of the Precipice"
Eurozone Crackup
By MIKE WHITNEY

It's deja vu all over again; the fear, the downgrades, the denials, and finally, the crash. Last Thursday, an unidentified European bank was unable to get funding the traditional way and had to turn to the ECB for $500 million of emergency funding. The news sent tremors through Wall Street where stocks went into an immediate 400 point nosedive. We've seen this movie before in 2008, and it doesn't end well.

What does it all mean?

It means the system is under great stress and beginning to slow down. It means investors have lost faith in the ability of policymakers to fix the system. It means there's a panic underway and people are moving into cash. It means the eurozone is headed for a crackup. It means we are on the brink of another financial crisis.

As the former European Commission chief Jacques Delors said on Thursday, "Open your eyes: the euro and Europe are on the edge of the precipice."

Read the full article at:

http://www.counterpunch.org/whintey08222011.html

[leftstreet]

1. 'Austerity measures have accelerated debt-deflation...and increased deficits'

I'm shocked I tell ya!

K&R

[Better Believe It]

2. And yet they continue on their destructive course.

[phasma ex machina]

3. The endless lies told by the powers-that-be (banksters) make it impossible for me to offer an

opinion on their financial crisis.

[TxVietVet]

4. "Free Market" capitalist's bu$hit.

Another conservanazi greed scam is going to take down the world's markets. Like Jim Hightower says, it's GLOBALONEY.