Mike “Mish” Shedlock joins us to discuss the latest act of interest rate self-immolation by the European Central Bank. It’s just as predicted by FSN, the economic bad news and depression is shifting from the US to other parts of the world. Now, we can look forward to awful headlines coming out of Europe. Mish’s blog shows that the Bank of Spain just discovered 20.5 billion Euros worth of bad loans on their books. We’re shocked and we’re sure you are too! Keep watching as the tragi-comedy continues.
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