Friday, February 12, 2010

When In An Inhospitable World Filled With Sharp Barbs, It Might Be Best To Act Like A Hedgehog

BIS tried to warn us.

Rosenberg gave us a head's up.

Ferguson and Faber sounded the alarm.

Now SocGen's Edwards and Grice are ringing the bell.

A lot of heavy-hitters are saying that this is not just a problem in Iceland, Dubai or Greece, but the start of sovereign defaults in fiat economies world-wide.

When in inhospitable world filled with sharp barbs, it might be best to act like a hedgehog.
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4 comments:

  1. AnonymousFebruary 13, 2010 at 5:37 AM

    So, the $64000 question is when will the big players begin defaulting? will it be a "lets all default together" moment where they spring the new world currency on the planet?

    Any bets as to how long before this shitstorm unveils itself?

    ReplyDelete
  2. Advocatus DiaboliFebruary 15, 2010 at 6:57 PM

    Hey,

    What do you think about my rant.. it is essentially about how our future is so screwed.

    http://dissention.wordpress.com/2010/02/15/dystopia-03/

    ReplyDelete
  3. AnonymousFebruary 15, 2010 at 11:50 PM

    So, It is politically impossible for the strong economies of Europe to pass a bailout, it is politically impossible for Greece policy makers to pass sufficient budget cuts, if budget cuts are implemented then it will just push Greece further into debt deflation, a default by Greece will cause a run on the European banking system, the ECB has no legal authority to purchase Greece’s bonds, if Greece gets bailed out the EU will need to confront similar problems with Spain, Italy, Ireland, and Portugal which have a combined GDP larger than Germany, and if they all get bailed out Germany itself will be bankrupt. Did we say the markets hate uncertainty?

    Source: Euro Crisis

    ReplyDelete
  4. Term paperFebruary 21, 2010 at 9:31 PM

    Excellent post and wonderful blog, I really like this type of interesting articles keep it up.

    ReplyDelete

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