Monday, October 25, 2010

The Whale is the United States

Economist Magazine quotes former Plunge Protection Team member and ultimate insider, Phillipa Malmgren:
The whale is the United States, and the markets are circling. We are not immune from sovereign crisis.
More from Malmgren:
The American public has almost no sense of the magnitude of its debt.
She thinks we will see default of a sort, inflation being the chosen mechanism, reports EM.

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