Tuesday, Jan 12, 2010
"you never want a serious crisis to go to waste" - Rahm Emanuel, White House chief of staff
FT: Bankruptcy could be good for America
"As Britain discovered in the 1970s and India found in 1991, looking over the edge can create the atmosphere of crisis that allows governments to win the arguments for economic reform. An actual sovereign default, however, can destroy confidence and trust among citizens and investors for years."
Posted by mountain goat @ 12:44 PM (826 views) Add Comment
2 Comments
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1. mountain goat said...
It's the bond markets that will need to decide. Here is a very cool animation of how things have evolved since 2000.
http://www.zerohedge.com/etch/v1i1
2. This comment has been removed as it was found to be in breach of our Blog Policies.