This is an on the ground report from a guy who until now has earned nicely of the financial turmoil in Europe. The figures he mentioned are very low so here are some more realistic figures; $1.2 quadrillion in Derivatives on the verge of collape.
I just got off the plane from Europe. I went there because I wanted to see the effects of the French election as well as get an “on the ground” perspective of what’s really happening in Europe.
I can tell you, the situation in Europe is far FAR worse than the media is even willing to acknowledge.
The above image was taken at 9PM on Paris’ Avenue de Champs-Élysées (the road leading to the Arc de Triumph) on May 8th, the night Socialist Francois Hollande beat Nicolas Sarkozy.
This is a major four-way intersection, come to an almost complete gridlock as Parisian youth park their cars to block traffic.
The sound was deafening as these kids honked their horns, screamed, sang songs, and waved flags. Did they care about traffic? Nope. Some of them even got out on top of their cars to smoke and dance (like the young man in the white pants in the image above).
These kids, like most youth in the EU are sick of getting the shaft from the political elite. Youth unemployment in France is near 25%. It’s at an astounding 50% in Greece and Spain.
So French youth, like others, voted to kick Nicolas Sarkozy out of office. But that’s not the BIG story from the French elections.
You see, French Presidential elections take place in two rounds. During the first round, voters will vote for anyone running. The two candidates who receive the most votes will then proceed to the second round, the winner of which will become France’s President.