Not to worry, the Obamasiah will bail them out.
2011 will probably be a very bad year, followed by a worse 2012. I hope I’m wrong.
The BIS says that under their shorter adopted maturity rate adjustment, the world has about $700 trillion in credit derivatives (probably something like the rollovers due for one or two years instead of 2-4 years conceptually). At short term financing at 1%, the rollovers will cost $7 trillion...nobody has it.
The unwinding of credit derivatives at all levels exceeds the world’s ability to pay the rollover fees, and the capability of bailouts has been exceeded...debt (money) must be printed. We know where that leads....inexorably.
Why do I suspect some backdoor, secretive deal will be made by the Federal Reserve to fund all these liabilities?
Our treasury is being raided and our children indentured, here. Not just children, grandchildren.
This is premeditated. Bye-bye United States and the dollar as world reserve currency. What will replace it will be to our distinct disadvantage, by design.
those crazy Mayans might be on to something..12/21/12
The NY Times is pushing hard for massive Quantitative Easing on a scale that dwarfs 2007-2009.
Why?!
Because such massive spending would delay the onset of the symptoms from too much debt (e.g. deflation).
Of course, such massive spending would also make the future problem even worse, but that doesn’t matter to the NY Times...who is more concerned with keeping Democrats in power than in our long term economic health.
I never realized there was so much money in the world with everyone owing something to everyone else. Maybe the world just needs an economic reset, just like in the Bible days. LOL
I wonder if it would actually be a good idea for a conservative to win the presidency in 2012. After all who the heck wants to be president when the big crash comes???