QOTD: "The Worst is Yet to Come"

Deutsche Bank strategists Nick Burns and Jim Reid are out with a very sobering note regarding implied credit events in the CDS pricing of four Euro nations…

From Bloomberg:

“If these implied defaults come vaguely close to being realised then the next five years of corporate and financial defaults could easily be worse than the last five relatively calm years,” the analysts in London said. “Much may eventually depend on how much money-printing can be tolerated as we are very close to being maxed out fiscally.”

I don’t know if I like the idea of the next five years being worse than the last five years.  Can’t we fast-forward to the part where the world isn’t falling apart in slow motion?

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