Marshall: "What it all amounts to is that the bondholders have a gun to the head of the world economy. But it's a real gun. And it may be loaded."The problem is, at some point the hammer is going to fall. Will the time of reckoning be when energy prices return to an upward climb as demand again exceeds supply, as described near the end of a Matt Simmons presentation HERE?
March 10, 2009
I like to blame Geithner now, but I think THIS basically is the situation. There is no clue what to do next. We have impasse between too big to fail and too big to save. It explains why Geithner and the Obama Administration seem lost and unforthcoming concerning the banking crisis.
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