Faber: US Will Default
February 10, 2010
Here’s to some comical relief (we hope). Marc Faber on CNBC projecting most governments will default, including the US, though he conveniently left out a time frame in his statement.
My thoughts are that if we’re going to default, might as well do it now while we still have the superior military rather than wait. But [...]
McKinsey: CRE in Spain, US, UK at Highest Risk of Deleveraging
January 20, 2010
McKinsey has put out a quick and dirty read entitled “Debt and Deleveraging: The Global Credit Bubble and Its Consequences”. In it, they detail how current leverage within the financial system compares to historic numbers and the massive run-up that occurred during the majority of this decade.
The entire report can be accessed by clicking here, [...]
East Meets West
June 29, 2009
Every time things seem to get out of control, there is always an excuse why it can be sustained. During the dot-com run up, we had the “new economy”. During the boom cycle of the housing run up, banks, investors, bankers, builders, the media, and everybody in between had their own reason why the market [...]
Read More >>Debt Outlook for UK Turns Negative; US Next?
May 21, 2009
The S&P issued a negative outlook on the debt of the UK yesterday to negative, from stable. A few months ago I wrote a post slash rant about the UK being the world’s largest Ponzi scheme for having so much external debt in relation to their UK.
It now looks like all the borrowing is beginning [...]
California Unemployment Up to 11.2%; Silicon Valley At 11% (!)
April 17, 2009
Last month we posted several pieces of data concerning unemployment in California as forecasted by the UCLA Anderson Forecast, in which they predicted that California Unemployment would peak at around 11.9% by mid-2010.
The EDD (Employment Development Department) is out with it’s March 2009 numbers, and California unemployment is already at 11.2%, up .7% from February’s 10.5%.
The [...]
