[quote=scaredycat]it’s just difficult to envision what’s on the other side of this[/quote]
I agree, it is very hard to envision what’s on the other side of this, but I suspect we won’t have to wait much longer. It just seems to me that a quickening is happening. Not sure if this has been posted in an another thread, but have you seen this?
“BEIJING, Aug 31 (Reuters) – A report that Chinese state-owned companies will be allowed to walk away from loss-making commodity derivative trades provoked anger and dismay among investment bankers on Monday as they feared it may set a damaging precedent.”
I’ve been hearing from insiders for the past few months that a derivatives *bomb* is about to be dropped this Fall. We’re talking trillions of dollar’s, I’m told. They were cryptic comments, and so I don’t have details beyond this. But when I saw the China’s latest move on the Grand Chessboard of Doom, I had to wonder whether they have just pulled the pin in a grenade.
If I were still a betting woman I would say that we should all be expecting a radical change in our way of life and standard of living, at the very least. I would also expect a lot of cognitive dissonance as everyone attempts to make sense of the departing world they have known all their lives and the new world that is being forced upon them. But I most certainly would not expect our government to help us with this transition. In fact, I expect our government to make the transition much worse, more painful and longer than it needs to be as it fights the inevitable.
