How The Primaries Will Go
Why Ron DeSantis Says the Debt Deal Is ‘Totally Inadequate’
Rolling Stone Picked the Weirdest Fight to Have With Ron DeSantis
Why the White House Correspondents' Association Ripped Into Joe Biden This Weekend
The DCCC Is Made Up Of Morons
They’re Conditioning Americans to Hate White People
'What Is She Doing Here?': Report on Feinstein's Health Details Senator's Confusion Over...
Lest We Forget
The Debt Ceiling Deal From Hell
Indiana AG Todd Rokita Sees a Win in Abortionist Fined for Violating Privacy...
Pramila Jayapal's Warnings About Debt Ceiling Speaks Further to Democrats in Disarray
'Odds Are That the Only Person Who Could Beat Sherrod Brown' Is Someone...
Memorial Day Commemorates No Greater Love
How the COVID-19 Pandemic Caused Massive Mental Illness on the Left
Rise of the War on White People

Obama's Bull Against the Tsunami

The opinions expressed by columnists are their own and do not necessarily represent the views of

As I watch the events in Europe unfold, it’s like observing a slow-moving train wreck.

Everyone knows the 800lb. gorilla in the room is Germany, and that Greece, Italy, and the rest of the PIIGS must tighten their belts to receive any kind of financial aid whatsoever. 

Transcribing proposals on paper and discussing them in parliament is one thing, implementing those ideas in the real world is something completely different. 

All the theatrics of meeting after meeting, general pronouncements, and dramatic conference calls can do no more to stop the inevitable than a lifeguard raising their hand trying to stop a tsunami.  Or the Pope's bull against Haley's comet.

Because it provides investors with an overwhelming false sense of security to be able to quickly react and save themselves, I am extremely concerned about the sluggish nature of the proceedings in Europe. 

It has often been said that bull markets go up by using the stairway, while bear markets take the elevator.  Given the monumental impact a European collapse will have on the whole world, you would think most investors would be making accommodations for the impending doom. 

Sadly, most people are reactive, not proactive.

Nearly everyone remembers the dot-com bubble crash of 2000 which materialized over a couple of years, or the even the credit crisis of 2007 that played out over months. 

I would point to the two weeks preceding August 9th of this year when the stock market erased all the gains of 2010 and 2011. 

From years, to months, to weeks, to ________.  Do we fill in the blank with days or hours? 

Regardless, the European credit crisis is the straw that will finally break the market’s back. 

Waiting for that to happen is as foolish as saying the proverbial “this time it’s different,” or “don’t worry, it will come back.” 

Investors believe they can respond quickly enough.  Unfortunately, it never happens that way.

People who survived a near death experience sometimes report seeing their “life flashing before their eyes” during the accident. 

During a car (or train) crash, the person may report time slowing down, and their entire life replayed in flash images in their mind. 

Today, the warning signs of the impending crash are painfully obvious.  Please don’t be mesmerized by the slow motion of the inevitable wreck. 

No matter the speed, there’s usually only one ending.   

John Ransom | Create Your Badge

See more top stories from Townhall Finance. New Homepage, more content. Be the best informed fiscal conservative:

Larry Kudlow Obama's Bizarre Tax Attack
Political Calculations Obama vs America: 2012 Spending Edition
Jeff Carter The Snooty, Bourgeois Buffett Tax
Mike Shedlock Consumers Don't Believe Recovery Fairy Tale
Bill Tatro Obama's Bull Against the Tsunami
John Ransom The Billionaires Who Run Obama's America
Gil Morales and Chris Kacher Watch That Dead Cat Bounce
Crista Huff Stocks in the News: AVGO Gains $10 to $37.35
Email Ransom

Join the conversation as a VIP Member


Trending on Townhall Video