HSBC: The Jury is Still Out On a 2008 Replay

How the pundits could say we do not risk a 2008 scenario is beyond me. Yes companies are flush with cash, yes corporate earnings have been on the up swing, but CDS spreads are blowing out all over the wordls and liquidity is back to a drip drip case.

Not to mention Europe’s problem by most estimates is a $2 trillion dollar problem with only $6-$800 billion on hand between the ECB, IMF, and the World Bank.

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