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Culture of Life News here!
Sep 27 18:38 pm
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All Comments by Elaine Supkis »US Corporate Debt Default Rate Could Top 23% by 2010 [View article]
Sorry, but if a quarter of all SPECULATIVE ---ie. hedge funds, JP Morgan, Goldman Sachs etc entities go under, this will cook the economic goose. There is no sunshine in this news. At least 10% of all corporations will be merged, sold to the Chinese or dead, too.
That is the good news. We pray that our financial masters in OPEC and Asia buy out our dying corporations. That stupidly put themselves deep into debt during the go-go years of buy-ups and buy-outs using the infamous Japanese carry trade funds.