OK, this isn’t a real-estate related post — again. But we thought you’d find this column by the NYT’s Andrew Ross Sorkin interesting. He interviews Mark J. Grant, who works at a Florida investment bank and has emerged as a plain-spoken, easy-to-understand analyst who long ago predicted the financial chaos now under way in Greece and other parts of Europe.
Here’s an example of how Grant both speaks and writes:
“There is only one way out of this mess and that is if Europe keeps handing Greece money like one does to some aged aunt that cannot support herself, but that is a family decision,” he wrote. But, he argues, “Greece requires 16 other family members to support her jointly and the politics in many of these nations, including Germany, is making it difficult for the charade to continue.”
He’s pretty blunt that other Euro-land countries, such as Spain, will soon share the same fate as Greece.
There will also be world-wide, nasty repercussions from the Euro crisis, though not on the scale of the Great Depression, he notes. Well, at least that is encouraging.