Thursday, May 11, 2006

Bernanke is rapidly losing control

MarketWatch: On watch for the next LTCM

All eyes are on the Fed, and one respected institutional service (Bridgewater) thinks there are reasons to dislike what they're seeing.

And then there's the REALLY bad news: Bridgewater also expects a major international system crunch exactly like the collapse of the fixed exchange rate Bretton Woods system, which lead directly to the inflationary crisis of 1974.

Wednesday morning, Bridgewater's Daily Letter was headlined, "The Tremors Before the Big One" and concluded: "We believe the odds of a dollar/ U.S. debt crisis in the next twelve months are elevated (say 50 percent)."

Posted by cgnao @ 08:42 PM (664 views)
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