Economics and Investing:
G.G. was the first of several readers to mention this New York Times article: Crisis Awaits World’s Banks as Trillions Come Due. Be ready folks. We could be on the precipice of a global debt implosion that will make the current crisis seem small, by comparison. I’ve warned you before, folks: be ready for bank runs. Here is a quote: “Banks worldwide owe nearly $5 trillion to bondholders and other creditors that will come due through 2012, according to estimates by the Bank for International Settlements. About $2.6 trillion of the liabilities are in Europe.” From David W.: Historian warns …