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Wednesday, December 24, 2008

Fasten your seatbelts

I've relayed rumours of these things here earlier: a dollar crash and US bond default. Now a respected Japanese ratings agency is preparing us for the reality. (htp: Karl Denninger)


James Higham said...

I read that it all came down to public perceptions. If they don't buy the doom and gloom, they'll spend and that will be hope. If they believe it, then things will go according to these predictions.

Debt is a realtive term. Instead of borrowing billions, if Gordo were to waive all personal credit debt and we start over, it would give a huge boost.

Radical, yes but why not?

Sackerson said...

I don't know what the consequences would be for savers; but maybe we should all start again. I'd like to see the details first!