Great article about how the Financials are just kicking the can down the road hoping for better times.
A potential bad strategy of not facing up to the realty of the credit cycle.
This is exactly what the Japanese did in the early 1990's. Their economy and Stock Market have never recovered.
Whats scary is that our leverage ratios are exponentially fatter then Japan ever was.
This is really an all out attack on the commercial real estate sector, a topic most people are ignoring and that at this very moment we should all pray this time it ends up like Japan and the lost decade instead of Nuclear Winter Century.
www.washingtonpost.com/wp-dyn/content/article/2009/07/11/AR2009071101172.html
I spoke about the dangers of our Government doing a Japan a few weeks ago.
tradersutra.blogspot.com/2009/07/whats-recession-anyway.html
Just hope and pray that China continues to make a market for US Treasury debt.
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