rcwill

Calling It Quits on Gold, Platinum - It's Time to Go Financials!

Kinda goes against what Noriel Roubini said in a CNBC interview yesterday that the banks have only written down 200 billion which is the result of the sub-prime mess only. The collateral damage soon to be accounted for will be from the prime, commercial, credit card debt, student loans,auto loans, and defaults in corporate debt which will add up to over 1 trillion in bank write downs. But...what does he know, he only manages a 47 billion investment company. That's gonna take a lot of printing in my estimation.