Two words: Watch California This aint no Latvia, or even S Korea or Argentina. On it's own, the state of California could be a G20 nation. Less than two months remain... we'll soon see how the California government reacts, and in turn, the ratings agencies, the US gov't, and the global bond market. California is on the precipice and it can influence many things outside its borders. It could be the canary in the mine so to speak - and can ultimatley spook many bond investors. As goes California, so go the rest of the many overindebted states, and hence the US gov't. Of course the White House recently denied California any bailout funds. But we'll soon see if the facts change enough that there is a reversal. Should things get really bad, expect Jim Rogers' predictions to come true much sooner. I still believe Rogers and Faber will ultimately be right. And sooner than most think.
............................................................................. Very interesting........... One takes their medicine now.....or later..... Pain in either direction....