Once again the vast majority fails to see a crisis in the making, even as it stares at them from close range. Just as market observers in 2007 told us that the credit crisis would be confined to the subprime mortgage market, current analysts tell us that sovereign debt problems are confined to Greece, Spain, Portugal, and perhaps Italy. They were wrong then, and I believe that they're wrong now.
Monday, May 10, 2010
Schiff: Is Sovereign Debt Crisis Contained to Subprime?
Good piece from Peter Schiff. Excerpt:
Posted by The Rat Cap at 11:29 AM