Don’t waste your time reading this.

This responds to a comment to my previous post about the economy melting – with hat-tips to Patricia Golden, Jens Petersen and Rick Shade. It is inevitable I suppose that people with no other ideas simply turn to God and claim that whatever happens is His (or Her) will.  But I've done that research, too. […]

Europe has belatedly grasped that

HUGE Credit Default Swaps are being sold to hedge short positions that cannot be filled.  There is a run-up of precious metal, but it cannot continue because all that metal is going to be dumped to cover the enormous margin calls which, because of long hedges, cannot be met either. So…..there is an OTC exposure […]