Today the chief economist at Sweden’s financial regulator said that Swedish banks must be prepared for a freeze in the interbank markets (shades of ’08): “It won’t take much for the interbank market to collapse. It’s not that serious at the moment but it feels like it could very easily become that way and that everything will freeze”. Geez. Shouldn’t guys like these be sugar-coating the situation rather than tell the truth?
Thursday, August 18, 2011
Yet another crash, sigh. Rosenberg today: