"The end game of the end game." -John Mauldin
This guy is a clueless doofus, yet he has a HUGE following. I have like, nothing.
His remarks are so ignorant that it really provides for some belly aching laughs. Unbelievably retarded comments. Check it out.
|According to Mauldin, Europe isn't solving its problems, but rather making things worse. Greece's "fundamental problem is its trade imbalance." And "Spain has lost access to the bond market. They can’t fund themselves."
"What we’re seeing is the real end game," says Mauldin. "We’re coming to the end of government’s ability to borrow money to fund current spending that’s beyond the growth of their economy.
But Mauldin doesn't see this as all bad, because in the end, governments will begin to tighten.
I actually find that massively bullish because that government funding misallocates capital. So governments are going to have to live within their means. Not just in European countries, not just in Britain, not just in Japan which has its own problems that will be coming to us next year, not just in France which will be the headline in 2 years, but also in the US.
It’s going to end in the next 2 or 3 years, Europe first, then Japan, then the US. Hopefully we (the US) don’t end by becoming Spain and hitting the wall and losing access to the market, without the central bank massively funding ourselves and watching interest rates rise.
That’s where Western governments are. They’ve run out of the ability to borrow money to finance their current consumption. This is a good thing that it’s coming to an end. I don’t see this as negative in the longer-term. It’s still going to be a bumpy ride for the markets. It’s certainly going to be (an interesting) ride for the business as usual crowd.”
I have nothing to add other than to say I apparently suck at comedy.