Waiting for Friday close. Very important for setting the tune for next week. Will markets still fight the upside or will we see serious falls. Until then read this article from the Wealth Daily as I think more or less the same.

This year we'll see the lowest cyclical peak in gross domestic product (GDP) since the 1970s...
The ten largest debtor nations on earth have total debts more than 300% higher than world GDP. That $70 trillion in debt is the collateral for $700 trillion in global derivatives — or 1,200% of global GDP.
That'd be like if you were $100,000 in debt and asked the local bank to front you $1.2 million to leverage up.
Once the first debtor default domino falls (Greece? Spain? Italy?), the rest will soon follow. Then the banks are done (where's your money?), which means the collapse of finance (if we can still call it that)...
Bonds evaporate. World trade, energy prices, and agriculture collapse next. And...
Well, I think you get the idea.

No comments:

Post a comment