Shah explained last month how the Eurozone was involved in a game of "chicken" that could wreak havoc on the region's bankers.
"Germany has basically said to Greece, we aren't going to ease up on the austerity requirements imposed on you so you could get more money from all of us, so, if you think that by electing a left-wing group of groupies who are campaigning on easing your burdens by leaning on us, your fed-up creditors, go lean on Atlantis instead, cause that's where you'll end up... underwater, and lost," wrote Shah.
"The Greek politicians - at least the lefties throwing curveballs - think there's no way the Germans will let them exit the currency zone, and of course don't want them to exit the European Union," Shah continued. "They are saying to the population, elect us, we'll spit on their boots and they'll bend over to shine them themselves. And, in the end, we the people will prevail."
Shah's take on the Eurozone debt crisis caught the attention of Steve Pomeranz, a renowned financial advisor and investor advocate based in southeast Florida.
Steve's not only a subscriber to Shah's free newsletter, Wall Street Insights & Indictments, but he also hosts the "On the Money!" radio show.
The "On the Money!" radio show is a weekly program dedicated "to protect you from self-serving forces within the financial services industry."
Pomeranz interviewed Shah earlier this week to discuss more of what's going on in Europe, and what will happen in the U.S. economy in 2012. Shah and Steve discussed the "extend and pretend" game being played in Europe and at home.
"There is no easy resolution to the fiscal problems of these nations, including the United States," Shah told Steve.
Shah said there's one thing right now nations can do to stabilize financial institutions - but even that option is a "dangerous game." Shah detailed how nations' plans to deal with debt are intended to help banks, and how they will actually play out.
He explained how these issues will play into the course of the U.S. economy in 2012.
Shah also analyzed the following hot topics:
- Why the recent losses at JPMorgan (NYSE: JPM) are a huge blow for Jamie Dimon: "He called the initial uncovering of the loss from the London whale's operation a "tempest in a teapot,' and it obviously became far larger than that..."
- What CEO Mark Zuckerberg could do to make Facebook Inc. (Nasdaq: FB) a "fantastic" stock: "He's done a fabulous job sitting back and letting the company grow as he had originally designed it...now, what is he going to do for Act II, III, IV?..."
- The problems hiding in the U.S. banking system: "They're in a precarious position, the future is quite shaded..."
- And the reasons the financial industry is the ultimate liar's club: "A lot of these banks are doing things they are not supposed to be doing... and it's not just at the top..."
To get weekly updates from Shah on the latest investing and economic developments around the globe, click here to check out his free newsletter, Wall Street Insights & Indictments.
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