Same old story+same old non-result​s = collapse...........from Rico

I know, I know. After several years of 'fixing' the Greek problem only to find nothing had been or is yet fixed, Spain has now become EUrope's Greece du jour and while everyone was distracted from this latest 'problem' an Italian Bank has declared a 'bank holiday' (for Krugman and other Keynesians read: broke; insolvent; depositors money is just beyond their ability to retrieve it, making them as 'el busto' as the bank today).
- The same old, same old cycle of baloney a.k.a. wash-rinse-repeat that was deployed to confuse....er, calm the public is being used for Spain. Yeah 50 billion Euro's will fix things, no wait...maybe 125 billion? No matter, it'll be yet another number before too long.

The fundamental problem is that the debt hole is larger than the available money to fill that hole, and that creating more debt to 'solve' a debt problem just does not work.
- Sure, in theory it works in practice...it just doesn't work in practice. Ever.

Remember the 'failure' (most would say theft, at least those who were not participants in the crime) of MF Global? It was orchestrated by JP Morgan. When JPM's Blythe Masters did her softball TV interview following that crime, the cynic in me wondered 'what is coming "next" that they are hiding?' to be answered by JPM's Dimon later publicly admitting they had 'lost' a couple billion in 'chump change' in their proprietary trading operations being run out of London.
- To no one's real surprise, however, the 'actual' losses were at least immediately double the announced losses (say five billion) while their Fed Stress Test made provision for over thirty billion in losses. We are today watching the cracks in the facade of JPM as their ponzi game unravels.

Figuring it out yet? Yes. They lie like a bad rug, but the REAL point to take away is that the intervals between each of these crises gets shorter and shorter, and the 'losses' being admitted to are more like 2x-5x-10x-30x in actuality.

Meanwhile, ignored by the FTV teleprompter readers, MSM talking heads, and our equally empty-headed politico's are minor things like these:
- Fed holdings of US debt have increased by 452% under Barry the Marxist boy wonder.
- The net worth of the American family has declined 40% in the last three years. How's that 'hope and change' working out for you?

As systemic failure approaches, and the false inflation-deflation 'debate' rages in the Halls of Macadamia and the Ivory towers of Washingtoon, DC, it is most likely that there will NOT be a 'collapse' but that the illusory wealth pyramid will simply 'evaporate' much as the investors money was 'evaporated' in the failure of MF Global (well, evaporated from the segregated customer accounts into pockets owned by JP Morgan and friends).