Interesting points including:
- Greece is bankrupt, a full mark down is required
- Western Economies will fail: Europe first, then Japan, then the USA.
- Japan has serious debt problems, most people will lose a third of their savings.
- Investors still don't want to accept reality
- PE are low, because E is too high and it will come down.
- We either take pain now, or we take apocalyptic pain later.
- Central banks will probably just print money and destroy the currencies.
- The US (government) has the same people who brought up in this mess, to fix the mess. It makes the US a laughing stock.