Ilargi: Ah, the blessings of globalization... I made a list yesterday of countries known to be in deep financial trouble: Spain, Argentina, Pakistan, Ecuador, Ukraine, Hungary, Serbia, Latvia, Estonia, Lithuania, Romania, Bulgaria, Turkey and Switzerland.
Today, an article in the Independent adds a few more (it also misses some of mine). Hence, I’ll add these countries to the list: South Korea, Russia, Australia, Austria, Kazakhstan, Brazil, India, Indonesia and China.
Of course, as the list gets longer, the problems become more diverse in shape and form. I don't yet see, for instance, Russia or China in immediate danger, while Hungary, Latvia and the Ukraine certainly are.
Read on...
Remember when Peacenik thought it odd that Canadian banks seemed to be immune to the fiscal chaos swirling around the world. Then they suddenly needed 25 billion dollars. Peacenik gets the feeling that the financial press is conspiring to hide the enormity of what has happened. Ilargi lays it out. Peacenik hates frightening people on a Monday morning. But Peacenik is frightened.
Today, an article in the Independent adds a few more (it also misses some of mine). Hence, I’ll add these countries to the list: South Korea, Russia, Australia, Austria, Kazakhstan, Brazil, India, Indonesia and China.
Of course, as the list gets longer, the problems become more diverse in shape and form. I don't yet see, for instance, Russia or China in immediate danger, while Hungary, Latvia and the Ukraine certainly are.
Read on...
Remember when Peacenik thought it odd that Canadian banks seemed to be immune to the fiscal chaos swirling around the world. Then they suddenly needed 25 billion dollars. Peacenik gets the feeling that the financial press is conspiring to hide the enormity of what has happened. Ilargi lays it out. Peacenik hates frightening people on a Monday morning. But Peacenik is frightened.
