Wanted: 1 new dawn
America’s growth continues to stutter, and China has accepted the need to consolidate. Together – especially the latter – they leave Australia with nowhere to go, and no way to grow. Faith in the eurozone is draining away, and ClubMed bond yields are spiking again. Draghi at the ECB takes less and less notice of German debt hysteria, and the Franco-German rapprochement upon which the EU was based is crumbling rapidly. If Greece defaults, French banks will fall over. If Spain does, Deutsche Bank will disintegrate. If any of those events occur, the carnage on madly over-leveraged Wall St will be bloody indeed. Continue reading
Lucas 2012 Infos 