Brazil leading the way back up after leading us down
Don't be distracted by the Kabuki theater playing out in Europe. Just more games to induce US to raise debt ceiling. It will happen, so will some form of QE 3. What most don't understand is THEY HAVE NO CHOICE. We're broke and to cut too deeply here causes uprisings. Print and kick the can down the road.
Think inflation is bad? Try deflationary collapse. Not defending what's happening here, but playing devil's advocate. Print or die. That is what we are confronting. It's a stalling tactic but imagine all asset classes torpedoing. Think it was bad when subprime/Alt-A went down? Try default on 75% of mortgages when home prices fall by 50% or more.....Imagine the derivatives that get triggered in the event of deflationary collapse.