Posted to The Age (10/11/2011) on 10/11/2011 at 12:18 PM
Commenting on "Markets Live: Stocks lose $37b on Italy fears"
http://www.theage.com.au/business/markets/markets-live-stocks-lose-37b-on-italy-fears-20111110-1n85g.html
As if you don't know that this is coming, really? Do you know who the PI(I)GS are? Bad luck for those who are so pig-headed in insisting that Santa Claus will bring them the gold nugget this Christmas will lose not just the pair of pants they are wearing, but the whole wardrobe’s. Take off the blinkers or the Stevie Wonder style glasses and look again. If you believe in the end of the world will occur in 2012, you still have a tomorrow, because there are a lot of tomorrows yet to come before 2012. The financial turmoil in Europe is real, and it is a lot bigger than Ben Hur. The flow-on effect is real as well, but then many economists just brush it off - China cannot just rely on internal consumption to keep its prosperity going. Without inflow of export or investment income, savings will dwindle. It’s elementary, Watson!