The recent surprise discovery that Deutsche Bank has a capital shortfall greater than its entire market cap (as per German economic research institute ZEW) amongst other European banking revelations of late, lays wood on the charade of bank stress tests and exposes the utter folly of the infinite debt based growth western economic model; as non-performing loans have reached epidemic proportions and exceed levels seen in 2008 as the financial crisis unfolded.
It won’t be today, but the day will come when the debt, chicanery, and factually incorrect statements (or to be blunt) outright lies of the world’s governments, central banks, pundits and so called “experts” come home to roost. This is a function of basic mathematics, no amount of pretending or wishful thinking is going to make these problems go away, and their resolution will one day exact a terrible economic toll.
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