the day of reckoning is here, page-17

Doomers claiming out of control US debts at state level, federal level, unfunded liabilities, on and on it goes will crash the world. Yes this money will never be paid back, unless USD is devalued to wheelbarrow level.

So, obviously don't buy any of it !! Don't buy any Euro debt either. Did Russia's defaults, Argentina's defaults, Mexico's defaults really change the world that much? Temporary dips in markets yes, but really only mattered if you were a bond holder.

This does not mean commodity supplies to Asia won't be tight, and does not mean XJO is expensive.

imo. :)