Carmen Reinhart has........................from Rico

Carmen Reinhart has something very interesting to tell us in the attached graphic.

- C'mon! I just know that somewhere "Reinhart-Rogoff" dimly rings a bell for some. Carmen is a serious economist. This is not a headline from the New York Post or the Enquirer........

 

Think "sovereign debt defaults" ahead. Debt default involves many things (extensions, haircuts, it's a longer list than I want to put here), but they ALL involve someone losing money.

- The prudent mariner might be well-advised to stop worrying about the deck chair arrangement, and start locating a lifeboat.

 

But "what, me worry?"

- Everything is just fine. No worries, mate.