Monday, 4 January 2016
Carmen Reinhart has something very interesting to tell us in the attached graphic.
- C'mon! I just know that somewhere "Reinhart-Rogoff" dimly rings a bell for some. Carmen is a serious economist. This is not a headline from the New York Post or the Enquirer........
Think "sovereign debt defaults" ahead. Debt default involves many things (extensions, haircuts, it's a longer list than I want to put here), but they ALL involve someone losing money.
- The prudent mariner might be well-advised to stop worrying about the deck chair arrangement, and start locating a lifeboat.
But "what, me worry?"
- Everything is just fine. No worries, mate.
From Theo Spark at 16:51