The Hidden European Banking Crisis That Could Destroy The US Markets

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The European banking collapse paused in October with a minor uptick in total deposits. In addition there was a massive, mysterious revision of the figures from earlier this year. In the data released in late October, September deposits had plunged below the 2015 low, suggesting that a crash had begun. The data just released erased that plunge and showed total deposits still above the 2015 low. I could find no explanation from the ECB.

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Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also provide analysis and charts for David Stockman's Contra Corner which I developed for Mr. Stockman. I’ve had a wide variety of finance related jobs in the past 44 years, including a stint on Wall Street in both analytical and sales capacities. Prior to starting the Wall Street Examiner I worked as a commercial real estate appraiser in Florida for 15 years. I also worked in the residential mortgage and real estate businesses in parts of the 1970s and 80s. I have been charting stocks and markets and doing analytical work since I was a teenager. My perspective is not of the Ivory Tower. It is from having my boots on the ground and in the trenches of the industries that I analyze and write about today. 

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