Tighten your seat belts. Good overview of next installment of the financial crisis

I am optimistic but

attend to the facts

I think we live in oddly optimistic times, but only if we attend to the facts.  Financial facts can be hard to come by and its very difficult to find the whole picture laid out in one place.

The Huff has a summary of the financial crisis in April 2010

  • our total national debt as you and I understand it – what we owe not just what the government owes
  • how much is underpinned by China
  • what China wants done and what IMF is doing RIGHT NOW

The Huff’s general message is tighten your seat belts.  The critical ideas seem to be

  • Debt repayments due in April 2010
  • Chinese/IMF proposal to introduce SDR’s – in short an international reserve currency which allows countries with surpluses to hedge their bets across countries looking for bailouts (us)
  • Where (and to whom) our money has gone (we really should get back what is left)
  • A crisis due in the next month or so (hang on to your seats)

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