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View Full Version : Fiscal ruin of the Western world beckons



Kvartiraokhotnik
20-07-2009, 11:15
No....not my words. These kind of things are being said more and more often by the mainstream these days.

Fiscal ruin of the Western world beckons - Telegraph (http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/5857074/Fiscal-ruin-of-the-Western-world-beckons.html)

Things are goi ng to get much worse soon....and they'll no doubt throw in the fear of swine flu and mass vaccinations, just so you dont worry about the financial collapse and restructuring of the western world.

Carbo
20-07-2009, 11:35
No....not my words. These kind of things are being said more and more often by the mainstream these days.

Fiscal ruin of the Western world beckons - Telegraph (http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/5857074/Fiscal-ruin-of-the-Western-world-beckons.html)

Things are goi ng to get much worse soon....and they'll no doubt throw in the fear of swine flu and mass vaccinations, just so you dont worry about the financial collapse and restructuring of the western world.
Yup, I would agree, on the whole with that article, Kvarty.

I suspect the bond market is hoping, in Britain's case, that the new Conservative government will enter office with the political mandate to make the cuts needed. Britain has to face up to the fact that it's going to have to pay higher taxes and take simultaneous cuts in government spending. There is no other way around it.

Meantime, I said this on another thread a few days ago:


I would also be tempted to short British gilts, and look seriously to see if their was milage in shorting Spanish, Irish, Baltic country and Greek bonds.

I see no reason to change my mind.

Moskauerin
20-07-2009, 15:17
The article seems to be very objective, and as it all sounds like truth, the outlook is pessimistic.
P.S. What is "British Gilts"? Does it mean government bonds? Thank you!

trebor
20-07-2009, 16:16
..............P.S. What is "British Gilts"? Does it mean government bonds? Thank you!

Correct. A long time ago British government bonds had a gilt edge to them. Hence the name.

is4fun
22-07-2009, 16:28
The U.S.-China Ponzi scheme

Thought I would post an article that explains pretty well what has been known for a long time now...

The U.S.-China Ponzi scheme - Sympatico / MSN Finance (http://finance.sympatico.msn.ca/investing/jonmarkman/article.aspx?cp-documentid=20780850)

Scrat335
22-07-2009, 18:52
Here's a little tidbit on the worlds 5th largest economy. There is a saying that states "So it goes in California, so it goes in America" or something to that effect.

http://www.nytimes.com/2009/07/22/us/22calif.html?_r=1&th&emc=th