Re: U.S. debt impasse could be 'catastrophic'Jul 13th, 2011
Really, really scary.........isn't it. A fragile house of cards tinkering on the brink of total collapse.
BBC has some very (financially ) skilled and knowledgeable people speaking to this.... and it is VERY concerning. We have no idea of the potential fall out. The magnitude is too much for most of us to handle.
......they will have to stop any activity that is hemorrhaging them. And we all have a pretty good idea which ones they are. Just have a look see at any of the anti war sites and see the counters adding up the money spent to date and the rate it is being spent per minute.
What is fascinating is that some continue to use terms like "american dream".....and restoring things to where that is the premise they live on. Would be nice if american pragmetism took over from this over reached fantasy.
And then there is:
Apocalypse Investors: How Wall Street Bets on Catastrophic Breakdowns That Destroy Lives
Bankers figure that if global markets collapse, they might as well make money out of it.
Apocalypse Investors: How Wall Street Bets on Catastrophic Breakdowns That Destroy Lives | | AlterNet (external - login to view)