2 Responses to

1. Rolf says:

   March 22, 2011 at 2:10 pm

   They have another article titled: JPMorgan: “The Likelihood That The Portuguese Government Will Fall This Week Looks High”

   Yes, it looks to be an interesting week…
2. Armageddon Rex says:

   March 22, 2011 at 4:44 pm

   The problem with a Portuguese default is the domino PIIGS who, once one is seen to take the ball and go home successfully will encourage the others to do the same. “Thanks for the prosperous decade all you pale northern, Protestant types… Oops, what’s that on the table?…the bill?!….well we’ve got to be going now….beunos ‘tardes!…it was fun while it lasted…”

   When the first one defaults, and it becomes clear that others will follow, this will prompt a huge rush into dollar denominated assets as a run to “safety” LOL!

   The entire 1st world has dug itself into an enormous hole! And by the U.S. being just slightly less deep than the others, everyone will move their money here and delay, quite likely catastrophically, the painful and necessary long coming reckoning and corrections for decades of crony capitalism, soft corporate fascism, and outrageous decadence on the part of the middle and lower classes.

   China is one giant Ponzi scheme waiting to implode.

   We may very well be the last nation standing without defaulting, but unless we bring back our manufacturing base and do a much better job of exploiting, protecting and developing our intellectual properties, we will join the rest in ruin sooner or later. The early ones in, like Iceland, will have the easiest time of it. They had their crisis when a great deal of margin was still available in the world to prevent a grinding humanitarian disaster or widespread all out war. The ones near the end will likely be all but leveled!

   Why can’t I find a place like New Zealand, but without the entrenched socialist nanny state?

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