The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.
NEW YORK ( Bullion Bulls Canada) -- As our economies slow down, it is inevitable that inflationary pressures will worsen -- not ease. This is a function of extremely simple arithmetic.
We start with the fact that few Western economies (and none of the larger ones)
The restructuring deal doesn't do anything to put Greece on a sustainable path. A third bailout will become necessary.Let me repeat this, so there can be no confusion about what this directly implies. Even after lighting a match to 75% of Greece's national debt, the banking community isn't remotely convinced that Greece is solvent, reflected by them maintaining their "junk" rating on Greece's debt. If Greece is still insolvent sitting with only 25% of its debt load, what does that say about all of the other Western economies being crushed under the weight of 100% debt loads? It's very simple. Any nation which was less than four times as "solvent" as Greece prior to its default is now less solvent than Greece today. That is not an opinion. That is arithmetic. Are there any Western nations that were (or at least might have been) more than four times more solvent than Greece? Yes, but