Financial Tsunami, 2011 or 2012?
Implications - similar to 2008, but double the effects.
If 2008 equivalent to Christchurch 6.3, 2011 will likely be Christchurch 10.0
Why?
Why Not?
Derivatives not unwinded yet, long way to go.
Bad debts, not reflected much in the system, thanks to new FRS.
New norm by Gary Shillings, US growth will be around 2.0% average mainly due to unemployment and 2 million unsold properties.
Gearing by governments, and printing of money.
MyView
Marc Faber think we are in DOOM stage.
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