Quadrillion Playing Submerged Elephant in the Room!
London, UK - 25th April 2009, 14:41 GMT
Dear ATCA Open & Philanthropia Friends
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ATCA conducts collective Socratic dialogue on global opportunities and threats.]
It is fashionable at present to condemn bank bailouts and to ruminate on hidden losses: billion dollar losses here and billion dollars there! When bloggers and so called 'expert' commentators are being bold -- from Huffington to Taleb and from Ferguson to Roubini -- they talk about a few trillion dollars of bank losses and reference each other. With respect, they are all missing the Quadrillion Playing Submerged Elephant in the Room! This elephant has spawned Eight Bubbles that are collapsing simultaneously as another Giant Bubble -- Government Debt -- is inflated to take away the full buffetting of their simultaneous burst!
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