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Thursday, November 08, 2007

What a bank run looks like





The only person I know who actually knows what a bank run looks like is my 95 year old Grandmother. Well - one happened on Monday. Bet you did not know it because Britney spears underwear were not involved. A bank run in the U.K. matters because, frankly, all signs point to the U.S being next.
I don't understand most economics - but it doesn't take a genius to see that the Fed and the American media are fiddling while the dollar burns. "We are experiencing among our clients an awakening that the United States is in big trouble," said Erik Nielsen, chief Europe economist at Goldman Sachs. "It is not just the mortgage market."

 

 
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