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 of sudden collapse of American ‘empire’
Jesse spotted this piece by Paul Krugman:Trending Toward Deflation
Brett G. suggested this article: How the Economy Will Look On Election Day
KAF recommended this: G20 looks to Beijing to drive global growth.
Also from KAF: European banks mull 20 billion Euro private bailout fund: report