Aug 282011
I have no difficulty accepting the conclusion expressed by Phoenix Capital:
However, regardless of when or if QE 3 comes, the fact remains that the financial markets are on DEFCON Red Alert today. Indeed, I fully believe we have entered the Second Round of the Great Crisis: the Sovereign Default Round. The First Round (2008) was just a warm-up. This time around, we’re going to see entire countries go bankrupt along with stock crashes, civil unrest, food shortages, bank holidays and more.
