Death cross:
The 2008 bailout recycled failure into success, thus setting a template for the decade to follow. What we have now are proven idiots constantly looking for ways to increase the wealth of an ever-smaller cadre of billunaire bailout queens, at the expense of everyone else. When Japan failed to export their way to long-term prosperity twenty-eight years ago, that should have served as a warning that the global imbalance of trade is a dead-end. When China copied Japan's export failure, resulting in 2008 collapse, that was the second warning. This Idiocracy is out of warnings.
"That’s a legacy of a decade-long debt binge during which emerging markets more than doubled their borrowing in dollars, ignoring the many lessons of history from the 1980s Latin American debt crisis, the 1990s Asian financial crisis and the 2000s Argentine default."
Even those that have been effective in building local-currency debt markets aren’t invulnerable from the Federal Reserve-led rollback in global liquidity."
"Turkey is entering the throes of a full-blown currency crisis.
The lira suffered its biggest loss in almost a decade Wednesday on a closing basis as trader confidence in the central bank’s willingness to halt its slide all but evaporated."
