Well financial records continue to fall all over the place and these are the kinds of records that spell knightmare for the talking heads that live in fantasy land and talk about economic recover, jobless recoveries and green shoots hahahahahahahahahahahahahahahahaha. I think they might have been smoking some type of green shoots when they spout such drivel hahahahahahahahahahaha.

2009 saw record corporate debt default.

This is how it goes in a consumer debt economy. First there is record public debt default or bankruptcies which we seem to be setting with regularity. What caught many of the banks flatfooted was that people chose to default on their house loans before their credit card loans which was a historical first. This is continueing to happen as it has been reported that people who are behind in morgage payments are keeping up with credit card payments. I guess there plastic is more important to them then a roof over there head hahahahahahahahahahahahaha. Well why not because it appears that many of these people are living in there McMansion morgage and rent free because if the bank forecloses on them then they would have to take the loss onto there books.

Then you get a banking crisis and large numbers of banks start to go bankrupt.

Then you get a record number of corporate debt defaults which we just set in 2009 with 329 billion worth.

Finally with the public and the corporations loaded down with debt they can not pay and declaring bankcruptcy this has a huge negative impact on governement revenue also known as taxes. With the governements in the west heavily in debt themselves they are the last domino to fall and default.

Now the governement default of choice of course is to hyper inflate.

Therefore is it any wonder that foreign US treasury purchases fell by a record amount in December and China unloaded 34.2 billion of them. For the year the net foreign purchases were negative. Geez I wonder who is financing the US record deficits, I guess it must be all those unemployed US workers buying T-Bills hahahahahahahahahahaha.

This is all very logical cause and effect.

All in my honest opinion of course.

F.F.