The so-called debt crisis and the accompanying unemployment and austerity scares were a massive hoax in the USA and EU. The perpetrators brought social turmoil, which in the past led to Fascism.
Dominant Social Theme: Unemployment will be the next great crisis for Europe to overcome. Fascism may be the result.
Free-Market Analysis: We generally distrust Stratfor
analyses because over the years it's become fairly obvious that they
have an agenda beyond their stated goal – or so we have decided, anyway.
But this particular publicly available analysis is a pretty good one
... though with a major caveat that we will discuss below.
The thrust of the analysis (see excerpt above) is that a debt crisis
is giving way to an unemployment crisis. This may seem obvious but
nonetheless is likely a valid "big picture" explanation of what is going
For investors in various European ventures, the lagging economies of
Southern Europe and the inability of Brussels to create economic
progress must be both noticeable and worrisome. Here's more from the
Europe is the focal point of this crisis. Last week Italy held
elections, and the party that won the most votes − with about a quarter
of the total − was a brand-new group called the Five Star Movement that
is led by a professional comedian. Two things are of interest about this
movement. First, one of its central pillars is the call for defaulting
on a part of Italy's debt as the lesser of evils. The second is that
Italy, with 11.2 percent unemployment, is far from the worst case of
unemployment in the European Union. Nevertheless, Italy is breeding radical parties deeply opposed to the austerity policies currently in place.