John Rubino says that Italian banks are ready to take a dive and no one knows what to do about it and how to stop it. Can you spell bail-in? The models have stopped working and the central bankers don’t have a clue. It’s armageddon for central bankers. They inherited a system that was functioning quite well and turned it into a dystopian nightmare. Where’s John Maynard Keynes when you need him? We’ve taken on so much debt now, that society is so over indebted we can’t get out of our own way. What’s next?
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