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Wednesday, January 21, 2009

UK Poised to Send World Economy Into Great Depression

The Pound Sterling is poised to tank. UK has about 2x GDP in debts, and it is looking increasingly likely that they will default on it. If the UK does default on all those debts, that might just be the initiator the world's deflationary "death spiral".

Somebody asked me if parity between the dollar and pound were a good time to buy sterling. I said, if they default, parity will be a tickmark on the way down, and they will smash right through it. At that point, it would make more sense to buy MREs and water tanks than Pounds Sterling

"The Baby Boomers have had their moment in power. The most spoilt generation in history has handled affairs with its characteristic hedonism. The results are coming in.

The blithering idiots."
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