Saturday, August 20, 2011
Banking Crash II – as forecast here last night
We can't afford another bank bail-out... so, should they be allowed to fail this time, get it over and done with? Quite what that will do to property prices, goodness knows, its uncharted territory, except on a small scale. One thing's sure, it ain't going to be pretty. As Roubini tweeted the other night - "When banks & deposits arent safe & govs are bankrupt time to buy canned food, spam, guns, ammo, gold bars & rush to your mountain log cabin"