"The Eurozone Purchasing Managers Index (PMI) points to a European recession, according to Markit Economics. Meanwhile a successful bond auction in Spain brought lower than expected yields. Is Europe on a "choose your own disaster" track? We talk to our guest co-host, Jim Rickards, Senior Managing Director at Tangent Capital Partners, and John Mauldin, President of Millennium Wave Advisors, about Europe's fiscal future.
John Mauldin, author of "Endgame", believes we are approaching the end of a 60-year global debt super cycle in the developed world. The end of this cycle is characterized by massive household sector deleveraging and a historic shift of private liabilities onto public balance sheets. How long does the US have until the national debt becomes the next global crisis? Our co-host Jim Rickards, author of "Currency Wars", talks to John Mauldin about the fiscal cliff and how this political storm might play out.
And while we deride the Fed for launching QE3, Japan has launched QE 8. This is the eighth round of easing as Japan's twenty year slump drags on. We talk to Jim Rickards and John Mauldin about QE and the risk of inflation, interest rate dislocation and the big bang!"
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