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Apparently not everybody is awake from the collective nightmare of the global meltdown as I was suggesting the other day.
Karl Denninger's excellent piece from the always interesting Market Ticker is required reading for everybody. Not only for its sobering assessment of where we really are today (and the likely ramifications), but also because for the first time, as far as I can tell, somebody is offering a sensible and feasible (albeit extremely painful and thus extremely unlikely to happen) way for us to get out of this mess.
(Holiday Warning: If you are lying on a beach somewhere, make sure you put off reading this until you get back, because otherwise you may decide it ain't worth coming back at all)...
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Tuesday, July 21, 2009
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