With criminal charges rumored to be pending in the Libor scandal, those of us who have watched bankers run wild the past few years will believe it when we see it. One can hope…Eurasia Group Comparative Analytics Director Dan Alamariu discusses the political and global repercussions of the Libor-rigging scandal. Here is a direct link.
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Cory’s Chart Corner
Humans just repeat the same old themes decade after decade. Today there is far more debt to service, thus greater financial impact on spending. Ask Walmart's CEO if he's noticed any change in consumer behavior while the U.S 10 years hits 5%.
Don’t forget in April of 2007 10 year hit 5.3% and by October of 2008 they were 2%.
No hope …… What we can be sure of is the elites will continue to play and gorge and they will wash it all down with Almas Caviar and Petrus and all at the expense of the citizenry.
Necessary change will come….eventually…. but it will not be sooner and it will be at a greater cost than most of us can imagine.
Reversion to mediocrity…..maybe not so bad.