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Monday, 1 February 2010

Dominoes............from Rico

WRT to Greek problem, Barcleh's did a nice flow chart of it. Essentially, the watershed will likely be whether the EU or the IMF handle the Greek bailout.

BUT we should be looking further afield. There are even bigger problems. California...with a GDP many times the size of Greece... is broke and may have to look to the US Federal gub'mint, which is also broke.

So, while economies in the EUrozone may follow Greece like dominoes, think what will happen if the California (the Michigan, then...) domino falls over?


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