If you havnt heard of Ambrose Evans-Pritchard, He is the international business editor of the Daily Telegraph (UK) - he writes some awesome stuff, but i imagine too frightfully frank for permabulls !
Heres a great little article .....
World stability hangs by a thread as economies continue to unravel
The political bubble is bursting.
Spreads on geo-strategic risk are now widening as dramatically as the spreads on financial risk at the onset of the credit crunch.Whether it is the Indian rupee, the Shanghai bourse, or Kremlin debt, the stars of the credit boom have fallen to earth.
Investors are retreating into 3-month US Treasury bills – the ultimate safe-haven. The yield has fallen to 0.02pc, less than zero after costs. You pay Washington to guard your money.Events are moving briskly in China too. Wudu was torched by rioters this month in a pitched battle with police. Violence has spread to the export hub of Guangdong as workers protest at the mass closure of toy, textile, and furniture factories.
"The global financial crisis has not bottomed yet. The impact is spreading globally and deepening," said Zhang Pin, head of the national development commission. "Excessive bankruptcies and business closures will cause massive unemployment and stir social unrest".http://www.telegraph.co.uk/finance/c...o-unravel.htmlIn the 1930s, it was not obvious to people living through debt deflation that their world was coming apart. The crisis came in pulses, each followed by months of apparent normality – like today.