Monday, January 3, 2011

Quick Plug - Rather than link one story, just go to Baseline Scenario and ... read.

Read a lot.  Read the comments posted after stories.  Then read some more.

Of particular interest, this story: “They lived in a world that was not only harsh and cruel but that rationalized its cruelty under the guise of economic law. . . . It was the world that was cruel, not the people in it.

and this one: Why can't Europe avoid another crisis? Why not the US?

Note this quote:

"Most experienced watchers of the eurozone are expecting another serious crisis to break out in early 2011.  This projected crisis is tied to the rollover funding needs of weaker eurozone governments, i.e., debts falling due in March through May, and therefore seems much more predictable than what happened to Greece or Ireland in 2010.  The investment bankers who fell over themselves to lend to these countries on the way up, now lead the way in talking up the prospects for a serious crisis."

This has "Credit Default Swaps" written all over it.

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