1. Credit-Card Debt: it will be the Next Meltdown; rising rates are
accelerating credit-card defaults and soured debt could further
undermine the financial system. Read more
2. Credit Default Swap market may go bust any time: looming above our
heads is the $55 Trillion CDS derivatives.
3. Chinese banks are facing difficult times; some of the big Chinese
banks may go bust in week time, which will kick-start the Asian crisis
and rest will follow.
The coming years are going to be difficult, all over the world we will
see job cuts in all sector. Many things, like Investment Banking and
fancy derivative products will disappear from the surface of earth.
But new leaders will be born, new financial system will emerge.
What you should do? I don't know..I'm having nightmares.
What Warren Buffet has to say: "You know, five years from now, ten
years from now, we'll look back on this period and we'll see that you
could have made some extraordinary (stock market) buys. That doesn't
mean it won't get more extraordinary a week or a month from now. I
have no idea what the stock market is going to do next month or six
months from now. I do know that the American economy, over a period of
time, will do very well, and people who own a piece of it will do
well."
BigGains !!
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