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Sunday, November 13, 2011

Italy, too big to fail, but too big to save!

David Rosenberg, chief economist & strategist at Toronto-based investment manager Gluskin Sheff + Associates. Rosenberg has long been skeptical, to put it mildly, about the European Union’s ability to keep its Tower of Babel from tumbling into recession.

Rosenberg doesn’t claim to know how this debt crisis will be resolved. “The problem with Italy is that it is too big to save and too big to fail given the systemic risks to the banking sector,” he told clients in a research note on Wednesday.

Bingo. And what of the USA, whose debt structure is actually worse than Italy?

Buy gold......, and you might want to buy some ammo and guns with it. Just sayin'

Gold and bonds are all that’s left - The Tell - MarketWatch:

'via Blog this'

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