The GFC is talked about as if it's something we've successfully circumnavigated.
The concern I have is the Global Financial Crisis may not have happened yet.
Ponzi is omnipresent - everywhere we look. There are 4 countries in Europe on the brink of bankruptcy and facing a triple whammy of rising debt, rising unemployment and decreasing GDP... how will they pay back their rising debts as they try to borrow their way out of trouble at very high interest rates with their GDP shrinking ?
Spain and Greece have unemployment levels of around 20% and growing.
We won't talk about China and the USA... two big Ponzi subscribers.
