"If anyone tells you that there's a single-factor explanation for societal collapse," says collapse guru Jared Diamond, "you know right away that they're an idiot. This is a complex subject." So, forget about peak debt, peak oil, peak climate, peak Harry Potter or even peak everything as the single most important problem that could bring today's whole pulsing, beaming and … [Read more...]
Real downgrade is when China dumps their Treasury holdings
It is not that difficult to discover who is the most concerned about Standard & Poor’s recent downgrade of the United States’s coveted AAA credit rating. The People’s Bank of China owns more Treasury bonds than anyone. All of a sudden, the liquidity of the U.S. Treasuries market no longer looks so appealing for the $1.5 trillion treasury bonds or so of China's foreign … [Read more...]