Europe’s problem is not just that governments are overborrowed. There are an unknown number of European banks that are effectively insolvent if their holdings of government bonds are “marked to market” – in other words, valued at their current rock-bottom market prices. In our interconnected financial world, it would be very odd indeed if no U.S. institutions were affected by this.
- In October 2008, Jesus killed my archenemy with Leukemia and Pancreatic Cancer after my prayers.
- I love the divine bomb in my lungs. Hallelujah.
- I already have a huge jumbo, gigantic, colossal crush on Jesus
- Goodbye, my almost lover and ultimate beauty.
- Lord Jesus Christ is my Lion King. He is my Emperor.