As I mentioned in another thread - the vampiric squid that is Goldman-Sachs will wrap its tentacles around China....
This morning, Goldman has thrown their support behind a Chinese candidate to replace DSK at the IMF. There is already a former Goldman employee working in the Bank of China.....
As I mentioned in the same thread, the Greek debt issue as well as Portugal and Spain and Italy and Ireland are not solved by any means - each government is looking to kick the can down the road.
http://www.bloomberg.com/news/2011-05-23/asian-stocks-drop-to-two-month-low-on-greek-debt-concern-canon-declines.html
http://www.reuters.com/article/2011/05/23/us-spain-election-idUSTRE74M2HD20110523
And in the USA....
http://www.chicagotribune.com/news/chi-ap-il-illinoisdebt-trea,0,7793270.story
When one domino goes, they will all follow suit. I expect a Greek default within a year. Ireland and Portugal will watch closely to see the fallout and determine if default is in their best interest as well...
This morning, Goldman has thrown their support behind a Chinese candidate to replace DSK at the IMF. There is already a former Goldman employee working in the Bank of China.....
As I mentioned in the same thread, the Greek debt issue as well as Portugal and Spain and Italy and Ireland are not solved by any means - each government is looking to kick the can down the road.
http://www.bloomberg.com/news/2011-05-23/asian-stocks-drop-to-two-month-low-on-greek-debt-concern-canon-declines.html
http://www.reuters.com/article/2011/05/23/us-spain-election-idUSTRE74M2HD20110523
And in the USA....
http://www.chicagotribune.com/news/chi-ap-il-illinoisdebt-trea,0,7793270.story
When one domino goes, they will all follow suit. I expect a Greek default within a year. Ireland and Portugal will watch closely to see the fallout and determine if default is in their best interest as well...
