By Graham Summers: One of the strangest aspects of history is that it not only repeats itself but that the repeats often come in rapid succession. Today, the entire financial world is repeating the 2008 debacle on a sovereign basis and few if any commentators seem to sense it. Weird isn't it? The 2008 Autumn debacle happened less than two years ago. The policy response to it was to simply shift garbage debt from Wall Street to the Federal Reserve, suspend accounting standards, and pump the financial system with TRILLIONS of Dollars (NONE of which fundamentally addressed any of the problems causing the crisis) and yet grown adults with fancy titles and degrees actually believed that the issues were FIXED....read on
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