Europe’s “Most Disturbing Chart” Continues to Sicken

Europe’s “Most Disturbing Chart” Continues to Sicken

Our good friend and one of our favorites to follow, Brian Hunt, has been following what he calls Europe’s “most disturbing chart” since December 2010.  Here’s an update from Brian – written in his usual wry, sarcastic style that I love…

Europe’s “most disturbing chart” is getting worse by the day.

In December 2010, we published a sorry-looking chart of German banking powerhouse Deutsche Bank (DB)… and called it Europe’s “most disturbing chart.”

Back then, DB had broken down to a 52-week low. We noted how the stock’s weakness was much more disturbing than weakness in Irish or Greek banking shares. After all, Germany is the “engine” of Europe. It is the continent’s most important and most stable economy. And DB is Germany’s largest bank.

We also noted that if German bank and asset prices were heading lower, it was a sign the “debt disease” at the fringes of Europe were starting to infect the whole body. As you can see from our updated chart, the disease has spread. DB has plunged 39% in just the past five weeks. Shares are at their lowest level since early 2009. The Euro Crisis has arrived… and it is laying low the strongest member.

Germany's biggest bank is plunging

Source: DailyWealth – A Picture of the Euro Crisis

Ed. Note: DailyWealth is an excellent daily investment newsletter, and it’s free to boot.