Monday, December 20, 2010

On the Brink of Big Badness

When CBS News is calling socialism "unsustainable", it means the jig is officially up. Most of the 50 states are bankrupt, and there's even talk of massive municipal bond defaults. In other words, neither the overvalued stock market nor the house-of-cards bond market will be safe havens. A big pile of fictional wealth is going to disappear one way or another.


Cathy said...

More than a little concerning. Time to start thinking about food reserves.

John said...

Ho Hum, yet another debt crisis to ignor. People have ignored the student loan debt crisis, the EU debt crisis, the Medicare debt crisis, the Social Security Debt crisis and the US budget debt crisis. I'm reading that all of the M&A activity is due to how "cheap" companies are to acquire. Companies are sitting on trillions of cash, there are trillions of dollars on the sidelines, the S&P PE ratio is 12, etc. What crisis?
I happen to believe that this is all going to end very badly. The question is when? I give it until 2012 or 2013. Happy Days are here again!