What then? Nobody knows, but the history of the times when the Old Gods have ridden high are certainly of interest. The good news, and the bad news, is that they are dependable.A great bet is underway, a poker game with stakes in the trillions, between those who are buying time with central bank money and believe that they can continue as before, and the others, who are afraid of the biggest credit bubble in history and are searching for ways out of capitalism based on borrowed money.Great. Yet it just says what we all know when we dare to think about it.
We're broke. Europe is broke. China is broke. The system will end.
The Old Gods
Doc Russia used to quote "The Gods of the Copybook Headings" from time to time.
By Grim on Sunday, November 18, 2012