Excellent podcast with Alisdair Macleod, who predicts a large financial crisis starting in Europe if interest rates ever were to rise. He points to but a few saver nations in Europe with most spendthrift nations out there, probably leading to a European breakup and a return of the Deutsch Mark eventually down the road. The overall debt situation for European nations is much worse if one redefines debt to gdp ratio as being a function of the size of the european country’s private sector. For example going from standard debt to gdp ratio definitions of 110% to 300 to 400% when one considers the small sizes of the private sectors in these countries, and countries such as france now want to borrow even more to pay for more green innitiatives. Also touched upon is the possibility that much of the european nations could actually only owe half of their stated amounts considering the leased gold factor and double counting. Continue reading The origins of stagflation is also touched upon