How bad off is Europe?

Bad enough to pull us down with it. But don't worry, Jim Sinclair has a buddy who says the central bankers have a plan:

The bottom line is that if Greece leaves the Euro, the contagion will spread overnight to Spain, Portugal, Ireland, and, perhaps, even Italy. So, the IMF, the Obama Administration and the ECB are all on board to further delay the reality of the financial and banking crisis through hyperinflationary measures.  The idea is that the situation will take many months to fully play out, and Obama and his re-election team hope that the system will hold together past the November elections.

Nobody's thinking long term anymore. If Jim's friend Harry Schultz is right, we're drawing into the final stages of a very dangerous game. For all the talk of crisis for the past four years, nothing's been fixed. Extend and pretend may finally be running out of room to run.