March 30, 2009
– Comments (2) |
RELATED TICKERS: FAZ
says UK may have to seek IMF rescue
Perhaps it’s a waste of time to talk of economic “consensus.” While many economists, both public and private, see a modest recovery beginning later this year, Gregor Macdonald sees nothing short of “collapse.”
Key quote: “While assets can certainly continue to deflate across the globe, my question is as follows: Can the US Dollar and US Treasuries bear that load without breaking? My answer is no. Only if every asset on the planet, in particular all other currencies and sovereign debt, were abandoned.”
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I wouldn't be looking to George Soros for objectivity.