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dnd

Credit Crunch Will 'shred Investment Portfolios To Ribbons'

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BIS (central bank of central banks) warning us yet again as to what's going to happen....

http://www.telegraph.co.uk/money/main.jhtm...cncrunch102.xml

Leveraged deals are running at 5.4 debt/cash flow ratio, an all-time high. As the BIS warns, this debt will prove a killer when the cycle turns. "The strategy depends on the availability of cheap funding," it said.
If you think we are too clever now to let a full-blown slump occur, read the BIS report.

"Virtually nobody foresaw the Great Depression of the 1930s, or the crises which affected Japan and south-east Asia in the early and late 1990s. In fact, each downturn was preceded by a period of non-inflationary growth exuberant enough to lead many commentators to suggest that a 'new era' had arrived," it said.

Edited by dnd

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