It seemed simple enough… “bailing” out a few megabanks to keep the entire financial system afloat. And yet, it turned out to be not so simple to save the world. Instead, global governments may have only managed to flood their own balance sheets with bad debt.
Now, governments and banks both risk submerging… and may soon to join the little guy already deep underwater, swimming in red ink with the sharks.
This telling look at debt came to our attention via The Big Picture.
Governments and Banks Making Sure Everyone’s Underwater originally appeared in the Daily Reckoning. The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today’s markets. Its been called “the most entertaining read of the day.”