My long time friend, and sometimes colleague, Ed Bonawitz, sent me a note yesterday showing the rot on the vine… This stuff isn’t for anyone under 13 to view, folks; it’s nasty. Here are some facts to make you cringe… “Ireland’s external debt, at $1.8 trillion, equals 900% of the country’s $200 billion GDP. The United Kingdom’s external debt of $10.5 trillion equals 456% of its $2.3 trillion GDP. Switzerland’s external debt of $1.3 trillion equals 433% of its $300 billion GDP.â€
Bank Losses Mount - Globally
Posted by StingingNettle 355 days ago (http://www.dailyreckoning.com)
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