Prelude to a Depression

To see why the risk of financial companies has not fallen, but actually risen read this from Chris Laird at the PrudentSquirrel .http://www.prudentsquirrel.com/breakingnews/14_11_07.htm


"The West (US,EU, Canada) is in the midst of a gigantic and spreading credit crisis that may well to lead it into a depression, if it is not fixed soon. So far, Central bank infusions (Over $1trillion worth in a few months since July!) have been the only thing that has stopped a massive bank liquidity crisis from shutting down commerce. But the damage to credit markets thus far is so huge, and worsening rapidly, that a very bad outcome seems assured. Gregory Peters of Morgan Stanley said there is a better than 50% chance of a systemic banking crisis that will hammer credit markets at this time.
So far, equity markets have barely reflected this turmoil to the degree it should. That is going to rapidly change. "