Playing Catch-Up

I haven't been around much these past two days, so am catching up on some reading of the current events in the world economy. I came across this article while getting updated at TraderMike's web blog. Being a closeted Bear I admittedly eat this stuff up. In particular I found interest in this paragraph: "The bursting of [this] bubble will be across all countries and all assets, with the probable exception of high-grade bonds," Grantham warned. "Since no similar global event has occurred before, the stresses to the system are likely to be unexpected. All of this is likely to depress confidence and lower economic activity."

Ouch.

Indeed.