Everybody has heard about the European countries that are in severe debt but have you heard about Japan? They are in real trouble and it will be interesting to see how this one plays out. -- editor Collection Call By David Galland, Managing Director, The Casey Report Hello, is this Japan I’m speaking to? Yes. (tentative). May I ask who’s calling? It’s the ACME collection agency. We’re calling today because of your outstanding obligations. Is there a problem? We’re hoping not, but your creditors are beginning to worry you won’t be able to keep up with your debt service. Oh. Why the sudden concern? It was an item in a recent RMB Currency Trader. And I quote: The Land … [Read more...]
Quadrillion Dollar Debt: ‘Day of Reckoning’ Looms
What Will Happen as $1,000,000,000,000,000 in Global Debt Winds Down? By Elliott Wave International The biggest balloon in the world is deflating. This balloon had been inflated with a quadrillion (1015) dollars, which is to say: This balloon was filled not with air but with debt from around the globe. What will happen as this global debt winds down? In two words: Deflationary Depression -- the likes of which could be unprecedented in history. A thousand trillion in debt can't be wished away or swept under the rug. No one can "forgive" the debt. The consequences of unwinding this debt could be as massive as the dollar figure itself. … [Read more...]
