Sunday, January 11, 2009

UK government is under a debt delusion

Financial Doomsday for All Asset Classes

The prevailing conventional wisdom holds that prices of many risky financial assets have fallen so much that we are at the bottom. Although it's true that these assets have fallen sharply from their peaks of late 2007, they will likely fall further still. In the next few months, the macroeconomic news in the United States and around the world will be much worse than most expect. Corporate earnings reports will shock any equity analysts who are still deluding themselves that the economic contraction will be mild and short.

Posted by v stor @ 07:43 AM (484 views)
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