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However, danger signs extend well beyond money funds. Virtually all global debt markets are vulnerable, including corporate commercial paper and US Treasuries. When crisis conditions deepen globally, no financial assets are safe. As a result, catastrophic consequences are possible.
(3) "Washington is suffering from the same debt disease as Athens," multiplied many times over. As a result, every hardship Greece now faces offers "a sneak preview of what could be in store (for America), barring" an unlikely major political miracle as lawmakers debate exacerbating measures, not healing ones. No wonder Weiss advises, "Above all, stay safe!"
In Part 2 of his May Quarterly Letter to investors, GMO asset management firm co-founder and chief strategist Jeremy Grantham headlined, "Time to be Serious" by lightening up on risk exposure at a time stocks are 40% overvalued and fixed income "badly overpriced."
With red flags emerging everywhere, now's "not the time to float along with the Fed, but to fight it," meaning safety is essential over risk as beating odds gets longer in a global economy getting sicker, not better, but don't expect Western governments or media to explain.
Stephen Lendman lives in Chicago and can be reached at Email address removed.
Also visit his blog site at sjlendman.blogspot.com and listen to cutting-edge discussions with distinguished guests on the Progressive Radio News Hour on the Progressive Radio Network Thursdays at 10AM US Central time and Saturdays and Sundays at noon. All programs are archived for easy listening.
http://www.progressiveradionetwork.com/the-progressive-news-hour/ .
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