Monday Nov 26 2012
Monday Morning WSJ is thin but informative on issues we have been discussing
Page A 2 - Canadians have been adding debt to create the million dollar bungalow, the melt down begins in Canadian real estate speculation
A 10 China lands jet on its new Carrier as the US cuts Defense
A 16 Moody's downgrades France from AAA, in thirty years the French debt has grown from 22% of GDP to 90%, this portends CA, IL, and other states and cities in the US that have followed a similar pattern
A 8 The Catalonia well to do region of Spain has been talking separation. The Basque regions, not wealthy, have talked of separation for a long time. I see a parallel with The New Civil War here, how long will the better to do regions willingly support the poor ones? And even 89 year old Hank Kissinger acknowledges that there may well be a split between better off Northern Europe and the Club Med party till you run out of credit crowd.
We will continue to point out confirmations of the events that will be newsmakers once the overall social mood turns negative this next year, in the mean time gird for a rally, again we expect a pullback this week.
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