It is a little
like waiting at the dentist's. You know it can happen and you know you are
going to have to face up to the fact it could be you. In the meantime you look
around the room at the frowning faces and wonder who is next.
It is much the
same with the defaults of central banks and their associated governments. They
are all there in the great waiting room of the world financial markets. Almost
all may be more confident and rightly so. Many will have worries but some may
know it is going to happen to them and the politics make it certain.
Sovereign
failures is the subject of this in a Bank Underground item which is not
easy reading and a little longish for the taste of most blog readers. But if
you want to know about the subject and be better informed than the TV experts
etc. it might be worth the time and trouble.
Also, you
might want to check out the foreign holiday bookings or indeed think twice
about that apartment going in a big luxury block at a knockdown price in one of
those faraway places that look so warm and welcome as the winter closes in.
Actually, I'm
a bit short, and the bank is being awkward, could you lend me a tenner or two?
From the link - "Looking ahead, we expect sovereign defaults to pick up again over the next decade"
ReplyDeleteThat's cheery news.