Day of Delusional

For the past year, Delusional Economics has been MB’s point man on Europe. Throughout this period he has been miles ahead of the main stream media and, often, several kilometers ahead of the global blogosphere as well. His sectoral balances approach to analysing the crisis has opened a clear window through the ideological and political fog pumped out by Eurocrats and their political masters, as well as a media that can’t see past the latest press release. He has exposed the failings of the European project and the authorities bumbling attempts to fix them with a dispassionate precision that has been of enormous value to any investor smart enough to listen, as uncomfortable as his truth was.

Throughout, DE has been recognised in the global blogosphere with consistent linkage to his work, especially in North America. Last night, however, it all went a bit nuts with DE leading the global understanding of Europe’s hapless latest effort. Blogs at The Wall Street Journal and Financial Times gave DE due prominence, as did a dozen other well regarded specialist blogs across Europe and North America.

Well done, DE.

For those of you that missed it, read the post if you value your wealth.

David Llewellyn-Smith
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  1. Wow – there’s plenty of blogs and news sites linking to DE’s piece (note some of the backtracks in the comment sidebar)

    Well done DE, I can’t think of a single other source that has covered the Europe situation, notably the risks and probabilities.

    From one of the links that has come through is this quote from European MEP Daniel Hannan, that the EU should be renamed the “FU”:

    “You’re Irish and you don’t see why your taxes are going up to repay European bankers and bondholders? FU! You’re Italian and you’re wondering why Brussels has imposed a government on you that doesn’t contain a single elected politician? FU! You’re Greek and you’d prefer a devaluation to the present endless crisis? FU!”

  2. Well done DE. Its amazing the power of the blogosphere in recognising reasoned well thought through analysis even from the other side of the world!

    • …while our own MSM carefully ignores any reality based analysis and seeks opinion only from “mainstream” (aka “establishment”) economists, all in the name of eternal optimisim and Aussie Exceptionalism.
      We are all fringe bloggers now. 🙂
      Well done DE, though I keep hoping that the Euro saga will end soon and you get to write on something else.

  3. Very well done DE – and as I said yesterday in a different thread – also very well done the entire MB team.

    I read the blog before I head out to the salt mines in the morning and then bore my colleagues, friends and family with the fiscal, social and political ‘reality’ learned through your efforts. Understanding of the Eurowoes, the Chi-sneeze, the Americrash and just how different it “isn’t” in Australia, for them is often slow in coming, but it IS starting to dawn with them.

    You keep the great information coming and I’ll keep spreading the word.


  4. Crikey, I’ll have to make sure I don’t say anything too stupid (a silly habit of mine I’m afraid), wouldn’t want to alert the thought police!

  5. Outstanding work DE – if there was a Pulitzer for blogging, you’d be top of nominee list. Thank you for your tireless efforts to introduce reason to such a political debacle.

  6. Well, what can anyone say?

    I have been getting feeds from all the “top” Aussie finance/economics/politics blogs via email or RSS for some time.

    This blog is the one that sets the standards.

    Quite astounding really. I have no idea who you guys/gals are or where you got your training and experience but there is no doubt that you are world class.

    No, better than world class.

    “Aussies”. What else is there to say?


    ah yes there is something

    1. don’t let it go to your heads
    2. don’t forget to constantly look to rope in new young very bright additions so you don’t become staid old fogies
    3. Don’t drink to much on Fridays, Saturdays and Sundays
    4. send me any insider info offline 🙂


  7. Hat’s off, DE. Your postings have become a part of my daily diet. They are an object lesson in sustained, coherent thinking and lively commentary. I’m very glad you and MB are gaining the recognition you deserve.

  8. Congrats DE! and MB!
    I can understand numbers but not economy. This blog (as a whole) has given me that little ‘extra’ knowledge of the current world which certainly will help me save my skin!
    Thanks once again for your efforts and keep up the good work!


  9. Fantastic DE and the whole MB team. It’s a great range of topics you cover globally and domestically, with even ethics and philosophy included. This site is a jem.

    Before I found MB it was frustrating to not know anyone who actually questioned the sustainability of global growth, China story, Aussie housing bubble, US depression/recession/green shoots/whatever you want to call it or paid much interest to events in Europe. I was stuck with mainstream news versus what I read in Zh, and it was like living in a parallel universe of the “all is great, carry on and buy a house with as big a mortgage as you can get” world and the ” dig a hole and hide with gold and ammo” world.
    MB is a nice place in between.

    Thanks again, everyone at MB.

  10. Where’s Peter Fraser?

    I waited long enough – so I will step up for him.
    “Big deal – a couple of referrals from a couple of sites. Show me the long term statistics on this blogging thing?”

    • When you get your own blog you can get in on some blatant self-promotion and self-congratulation too.
      THAT is what we Aussie’s do best.