End Times for Euro Zone

The latest plan to delay the collapse of the Euro Zone had the stock markets going up....based 100% on the HOPE that someone could fix things.  Don't hold your breath. You can't just borrow billions and then HOPE that someone else comes along and pays back all your debts.... unless a spaceship arrives from Mars bringing bags of money.

-- Italy alone needs 113 billion euros in the first quarter and 300 billion over the full year.

-- European banks need 500 billion euros in the first half of 2012 and 275 billion in the second half.

-- This means they need to raise 230 billion euros per quarter in 2012, versus 132 billion per quarter in 2011.

-- Yet since June 2011, European banks have been only able to raise 17 billion euros, compared to 120 billion in 2010.

Das notes that Europe does not have a liquidity problem that can be solved by cutting the cost of swaps. In other words, you can't just replace private-sector lenders with official lenders such as the ECB, IMF or the Fed.

This incredible scramble for funds is unseemly and should make everyone extremely uncomfortable. These are like loans to a drunk to buy more booze so he can shed the DTs. It's not a solution; it's buying time. 

The world is running out of options unless a spaceship arrives from Mars with more money. The time to fix this is long past, and now we just have to figure out how to live with the consequences. To Das, a line from Shakespeare’s tragedy Richard II, is appropriate: "I wasted time, and now time doth waste me."

Here; http://www.marketwatch.com/story/end-times-for-the-euro-zone-2011-12-07

Wow!!  Did you catch that last sentence about the world running out of options and we need a spaceship to come fix it??  How prophetic is that??

Yes, it's true....the world is running out of options.  As followers of Christ we know that the ONLY thing that is going to fix things is the return of Jesus Christ.  Lord!  Please come quickly!!  We are running out of options!!

Hat tip to Kim H.