“the real question is what (if anything) we do *when* they burst?”

There are many that say preparations involve reducing any debt burdens, holding hedging currencies or precious metals (like Gold and Silver), increasing self suffiency and hoarding of various items.

However, I would suggest that for each of us that read this blog, our best preparation has been psychological. If things go crazy in the coming weeks / months / years then most people will be confused and bewildered. By properly understanding what is happening in the world we will be better prepared for the turmoil ahead. That alone will be worth more than gold.

“EVERYBODY is lying to us these days and it’s creating market turmoil on a daily (and intra-day) basis. Much like in 2008 – unscrupulous investors can make a fortune in a single day by floating a rumor like the one above and there is just as much money to be made on the way back up as the rumor is denied and the stock recovers.” (http://www.zerohedge.com/contributed/navigating-global-rumor-mill )

The importance of careful research is underlined by the fact that Phil himself gets one of his facts wrong in his piece. He claims that the author of the Wall Street Journal – Nicolas Lecaussin, director of development at France’s Institute for Economic and Fiscal Research – is “a man who Iconomie calls ‘France’s worst enemy'”.

In fact, “France’s Worst Enemy” is the title of an article in Iconomie by… Nicolas Lecaussin (http://econlib.wordpress.com/2010/09/03/frances-worst-enemy-nicolas-lecaussin/ ).

In the “fog of rumour and denial”, as Golem so accurately describes it, it’s all too easy to get carried away. We’re all waiting for the dykes to burst, and so latch on to any sign of weakness in the walls, but perhaps the real question is what (if anything) we do *when* they burst.

I agree Coulson is what really matters. But for the holier than thou family values, we’re better than you tories it could be leave a sticky stain – if you’ll pardon the expression.

Personally, I don’t care what Boy George got up to in his mis-spent youth: the Coulson connection is what matters.

In most countries, a law would have to be passed in order to levy a tax, which means going to the legislative body. Even if the legislature were 100% on-board, this will take time, debates, etc..

Have a look here, at http://www.patrick.net

http://businessetc.thejournal.ie/ecb-spent-e14bn-on-spanish-and-italian-bonds-last-week-224330-Sep2011/

Speaking of which, 2019 to put in place IBC’s banking reforms, it’s a sick joke.

Like the new pad Golem.

It seems that, just like the UK as I write, we’re experiencing a calm little moment before the storm. Not sure how long Europe can collectively hold it’s breath though…

As for a Tech stock bubble, I have long suspected that it’s a case of when, not if a major unwinding takes place.

( No edit facility… :(( )