This is one of those entries where I’m going to basically just send you over to the link so you can check it out for yourself. The site itself has become a daily must-visit for me, and should be for others interested in what’s really going on. I don’t know who this guy is, but he’s really really good.
His entries are so chock-full of links that cutting and pasting what he’s saying is almost pointless, unless you include all the links (and if anyone knows an easy way to do that, I’d love to learn it!).
Anyway for all the Larry Summers MORONS out there who think that sunny days of economic lushness are right around the corner, well, this is something of a buzz-kill. (the same guy has an awesome piece that just DESTROYS Summers).
Anyway, here’s a sample:
Today, Moody’s warned that future tax rises and spending cuts could trigger social unrest in a range of countries from the developing to the developed world, that in the coming years, evidence of social unrest and public tension may become just as important signs of whether a country will be able to adapt as traditional economic metrics, that a fiscal crisis remains a possibility for a leading economy, and that 2010 would be a “tumultuous year for sovereign debt issuers”.