Large corporations still have large, unfunded pension liabilites, as do municipalities. States' budgets are hurting. The Federal budget will be hurting if they try to bail out FRE FNM.
The amount of digital dollars to printed dollars is probably 20:1. Something that costs $20 now could end up being bought for $1 during the panic phase of the credit contraction.
Blindfold yourself, throw a dart, and whatever you hit could very well be the next shoo to drop.
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