So, Now What?

The New Third World

I'm reading a book right now about how the next major financial crisis is not defaulting banks but defaulting countries.  If you are paying attention to the news at all you will see that this is more or less what is happening.  Again it's not a key stock issue but a bad loan issue. 

In the case of many of these countries they artificially inflated their own worth and borrowed against it creating a trap that was self sustaining until a point at which it blew up and created a crater for them to fall into. 

I wonder how many years it will be before the world feels that our collective economies are growing again?  It seems like it might take us quite a while.

posted by Shane @ 6:59 AM